[ad_1]
US lawmakers are discussing a bill to prevent the country's major technological institutions from issuing cryptocurrencies.
According to a Reuters report released Monday and a copy of the bill circulating online, US House of Representatives decision makers seek to strengthen the oversight of major technology companies interested in cryptocurrencies.
In the section entitled "Cryptocurrency Prohibition", the Bill entitled "Financial Cost Limitation Act" states:
"A large platform utility may not establish, maintain or exploit a digital asset intended for widespread use as a means of exchange, unit of account, store of value or any other similar function as defined by the Commission. Federal Reserve Governors. "
The bill specifically defines a digital asset as "an asset that is issued and transferred using distributed ledger or blockchain technology, including" virtual currencies "," coins " and "tokens".
He added that any large technology company with annual revenues in excess of $ 25 billion could fall into this category and that any violation of the proposed regulation should be punishable by a fine of "not more than $ 1 million". dollars per day ".
Although the bill is still only a draft discussion and it is not yet officially submitted, the news comes just weeks after Facebook announced a plan to issue Libra cryptocurrency. on a chain of blocks. The company achieved a global turnover of 55 billion dollars in 2018.
Regulators around the world have since expressed concerns about how Facebook's plan could remain in line with central bank regulation around the world.
Last week, US President Donald Trump made his first comments on cryptocurrencies via a series of tweets, in which he criticized the Libra project on Facebook for "little reliability or reliability."
Image of the Balance via Shutterstock
[ad_2]
Source link