The Democrat majority on the US House Financial Services Committee is proposing a bill that that would prevent big technology firms from operating as financial units or issuing digital currencies, a move that seems to be aimed at Facebook after the social media behemoth announced last month that it would be launching its own cryptocurrency in 2020.
Social media giant Facebook has announced it will launch its own cryptocurrency under the name Libra next year through a new subsidiary Calibra which will also supply the digital wallet for the new currency, a move that has been met with criticism from politicians and regulators alike.
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