Keep Big Tech Out Of Finance Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 23, 2019)
Keep Big Tech Out Of Finance Act
This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency.
The bill provides for a one-year wind-down period for a company engaging in these prohibited activities.
What just happenedNov 13, 2019
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Who’s behind it
- Introduced in HouseOct 23, 2019
- Nov 13, 2019Committee
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Commodity Markets, Digital Assets, and Rural Development Subcommittee - Oct 23, 2019IntroReferralH11100
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Agriculture Committee - Oct 23, 2019IntroReferralH11100
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Financial Services Committee - Oct 23, 2019IntroReferralIntro-H
Introduced in House
- Oct 23, 2019IntroReferral1000
Introduced in House