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Big Tech Wants to Become Its Own Bank (jacobin.com)

submitted 6 days ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 4 points 6 days ago

They weren't already? The amount of money they shuffle around and the megalomaniacal ideas they have that are just dreams of complete control (their own towns, cities, islands, with their own currency and so on), this cannot be surprising. I'm honestly surprised it wasn't already what they were doing.

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