Odaily Frontline | The U.S. Congress is considering banning technology companies from launching cryptocurrencies? Or good for Bitcoin

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2019-07-14 22:11 (UTC+8)

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Anthony Pompliano said this is the most positive news for Bitcoin I have heard in weeks!

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Anthony Pompliano said this is the most positive news for Bitcoin I have heard in weeks!

This article comes fromBitcoinist, original author: Martin Youn

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U.S. lawmakers are considering a new bill that would ban tech monopolies from launching their own cryptocurrencies, news that industry insiders believe will boost bitcoin, according to media reports.

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It was previously reported that a draft discussion titled "Keep Big Tech Out Of Finance" (Keep Big Tech Out Of Finance) appeared before the US Congressional hearing on Facebook Libra. The bill seeks to prevent internet and technology giants from becoming financial institutions. It also seeks to prohibit these companies from "establishing, maintaining, or operating digital assets intended to be widely used as a medium of exchange, unit of account, or store of value."

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Good for Bitcoin?

James Torado, managing partner at Blocktown Cap, added, "Governments have been pretty effective at shutting down alternative currencies. They're using the same tactics with Libra. Bitcoin is different because no company can be sued in court. But they can do what they did to gold in the mid-20th century." It is also forbidden to own Bitcoin."