House Financial Services Committee of the U.S Congress has proposal about gigantic online tech companies barring from crypto currencies.
looks bad ? actually it looks good news in my point of view.
“A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System,”
this proposal for big tech companies who have annual revenue more than 25 billion USD. It is good for opening way for smaller fintechs.
Much fairer competition will be in crypto based fintechs.
how about price of BTC and other ?
Many times we had similar sharp price decline such a pike diving in past. in Mike Hearn quit letter, in Chinese ban news and many others. All these followed by sharp increase after fog-of-war removed.
Bitcoin do not died.