Pro@programming.dev to

Technology@lemmy.worldEnglish · 8 days ago

Big Tech Wants to Become Its Own Bank

289

Big Tech Wants to Become Its Own Bank

Pro@programming.dev to

Technology@lemmy.worldEnglish · 8 days ago

To the dismay of Elon Musk and Mark Zuckerberg, the law currently prevents Big Tech companies from opening banks. But if Congress passes the GENIUS Act, tech firms may start issuing private currencies and forcing us to use them.

Chat

katy ✨@lemmy.blahaj.zone
link
fedilink
English
arrow-up
5·
6 days ago
yeah but most of those are all just branded while being backed by synchrony or barclays
- ABetterTomorrow@lemm.ee
  link
  fedilink
  English
  arrow-up
  1·
  6 days ago
  Yeah but it’s a start and that scary.

Technology@lemmy.world

technology@lemmy.world

You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: [email protected]

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related news or articles.
Be excellent to each other!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
Check for duplicates before posting, duplicates may be removed
Accounts 7 days and younger will have their posts automatically removed.

Approved Bots

Visibility: Public

This community can be federated to other instances and be posted/commented in by their users.

5.4K users / day
9.32K users / week
17K users / month
37.5K users / 6 months
1 local subscriber
70.6K subscribers
13.4K Posts
524K Comments
Modlog