Why Congress’ New Draft Bill Is Bullish For Bitcoin

US lawmakers are mulling a new bill that will boost bitcoin and prohibit tech monopolies from launching their own cryptocurrencies. The draft discussion has surfaced ahead of Facebook’s scheduled congressional hearing this week on the Calibra crypto project.

Bill Bullish For Bitcoin

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…

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