Sunday , July 14th 2019
The July 12 dated draft entitled ‘Keep Big Tech Out Of Finance’ surfaced online apparently originating from within the United States House of Representatives Financial Services Committee. The primary directive is to prevent internet and technology giants becoming financial institutions. It also aims to prohibit these firms “establishing, maintaining, or operating a digital asset that is intended to be widely used as a medium of exchange, unit of account, store of value,” as defined by the Board of Governors of the Fed, according to reports.
Morgan Creek Digital co-founder and Bitcoin permabull, Anthony Pompliano, tweeted that the move was extremely bullish for BTC. “Congress has drafted a bill called ‘Keep Big Tech Out Of Finance’ which would prevent…