HR 4813
Keep Big Tech Out Of Finance Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Keep Big Tech Out Of Finance Act, aims to prevent large technology companies – often referred to as ‘large platform utilities’ – from engaging in financial activities. Specifically, it prohibits these companies from being considered financial institutions, affiliating with financial institutions, or operating digital currencies intended for widespread use as a medium of exchange. The bill includes a one-year wind-down period for companies already involved in these activities, and establishes penalties for violations.
Sponsors
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Primary sponsor
Jesus G. "Chuy" Garcia
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