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A comment on US proposes barring tech companies from offering financial services. Parent comment

Re:US proposes barring tech companies from offering financia... by manicdee on Thursday July 25, 2019 @08:59AM (#20524954)
This legislation is clearly aimed at Apple. Today Apple Pay and a Goldman Sachs credit service. Tomorrow a credit card offering if their own to compete with other Eurocard/Visa/MasterCard services.

There’s a lot of money on the line.

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Re:US proposes barring tech companies from offering financia... by klez on Thursday July 25, 2019 @09:07AM (#20525016)
> This legislation is clearly aimed at Apple.

Really? Because I was under the impression that they're more worried about companies minting "currency".

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Re:US proposes barring tech companies from offering financia... by manicdee on Friday July 26, 2019 @12:32AM (#20532375)
I guess it’s a bit hard to accurately target the legislative equivalent of a nuclear bomb.
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Re:US proposes barring tech companies from offering financia... by umeshunni on Thursday July 25, 2019 @01:14PM (#20527309)
It seems to be clearly aimed at Facebook.
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Re:US proposes barring tech companies from offering financia... by manicdee on Friday July 26, 2019 @12:37AM (#20532389)
Facebook is only establishing an alternative currency, which major banks will be participating in if it gets off the ground.

Libra is not a threat as long as Facebook plays well with regulators and various nations’ tax offices. In addition, Libra will be run by a spin-off company, not directly by Facebook.

Apple is potentially going to cut EMV out of the loop.

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