From CNN: "New proposed legislation drafted by Democratic Congresswoman Maxine Waters' staff could stop Facebook's cryptocurrency ambitions. The proposal, still just a discussion draft, is titled the "Keep Big Tech Out of Finance Act." It details rules that would prohibit large internet platforms from becoming financial institutions or offering cryptocurrencies."
I am of two minds - I don't like cryptocurrency. I don't like Facebook. But I do like the idea of someone with deep pockets being responsible for a cryptocurrency, and while I do approve of congress regulating an industry for the public good, I don't like them interfering with an industry by pre-banning an idea before it's been shown to be good or bad.
P.S. If congress wants to meddle or investigate, they can tell me why Judas Priest isn't in the Rock and Roll Hall of Fame. C'mon, we're talking Judas Priest! 19 hits on the Billboard charts, true British metal, and if you're a teenage head banger who's just bought his first guitar and you can't play 'Breaking The Law' within 30 days, you're never going to be a guitarist.
I am of two minds - I don't like cryptocurrency. I don't like Facebook. But I do like the idea of someone with deep pockets being responsible for a cryptocurrency, and while I do approve of congress regulating an industry for the public good, I don't like them interfering with an industry by pre-banning an idea before it's been shown to be good or bad.
P.S. If congress wants to meddle or investigate, they can tell me why Judas Priest isn't in the Rock and Roll Hall of Fame. C'mon, we're talking Judas Priest! 19 hits on the Billboard charts, true British metal, and if you're a teenage head banger who's just bought his first guitar and you can't play 'Breaking The Law' within 30 days, you're never going to be a guitarist.
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