- A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation seen by Reuters.
In a sign of widening scrutiny after Facebook Inc’s proposed Libra digital coin aroused widespread objection, the bill proposes a fine of $1 million per day for violation of such rules. Even if it were to pass the full house, it would still have to pass the senate which would also likely be an uphill struggle.
The draft legislation, “Keep Big Tech Out Of Finance Act”, describes a large technology firm as a company mainly offering an online platform service with at least $25 billion in annual revenue.
“First they ignore you, then they laugh at you, then they fight you, then you win.” -Mahatma Gandhi Long $FB HODL
The plan of Facebook is to take currency system away from nations.
Uohhhh $fb $goog
Capitalism is only good when it's hurting others... not when it bites back?
Protecting the toibigtofail undercapitalized underregulated BANKS again eh? badidea
I propose barring zuckerberg from fcking everything because he is a MASSIVE threat to humanity as it is now in his best interest that the gop putinist traitors pretending to be conservatives win in 2020
naomibrockwell
Sad day for trump. Nobody else will give loans l, this would of been his last hope, a loan from Amazon
Great!
Yea because that’s to much power for them
bitcoin unaffected
Oh the fear that they will no longer be able to control their population through their rigged banking systems any longer 🤣 thetablesareabouttoturn
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