The new lawsuit argues that UIGEA should be overturned in the sense that it is unconstitutional because Congress cannot hold financial institutions accountable for deciding what is a legitimate transaction.
"This is a very simple argument that we are asking the court to overturn this law," said iMEGA Chairman and CEO Joe Brennan Jr. "UIGEA should be a 'avoidance of ambiguity' in that Congress has not defined what "illegal internet gambling transactions" are required. Congress cannot delegate necessary decisions about what is 'illegal' or 'illegal' to banks and credit card companies in the United States. The Treasury, tasked with drafting regulations on UIGEA, testified before Congress that they themselves could not make such a decision. Because Parliament has refused to draft the necessary standards, the law is so flawed in nature that it is completely ambiguous and unenforceable, and we are confident that the courts will overturn it."