Question

Choose an issue recently covered in the news faced by a business in the United States. Discuss the issue involved. Explain how the law and constitution were applied in the resolution.

Answer 1

A recent issue is that barring the big players of the technology companies to stop functioning as financial institutions and even barred them from issuing any kind of digital currencies. The violation of this will be imposing a fine of as high as $ 1 million per day. This issue came into light due to the introduction of the Libra digital coin by Facebook. This bill has to pass by the senate to come to the law but before that, it has aroused a discussion on curbing the big companies to act as financial institutions. This bill has to pass from the full house and the senate both. In this, it was clearly stated by the President that these companies cannot act as a bank and use cryptocurrencies to act as a bank. They have to receive banking carter before entering into such type of business. These is how the law and resolution applies to this issue.