1. Short title This Act may be cited as the Keep Big Tech Out Of Finance Act . 2. Prohibition related to large platform utilities (a) In general A large platform utility may not be, and may not be affiliated with any person that is, a financial institution. (b) Prohibition related to cryptocurrencies (1) In general A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value, or any other similar function, as defined by the Board of Governors of the Federal Reserve System. (2) Definitions For purposes of paragraph (1), the Board of Governors of the Federal Reserve System shall define the terms medium of exchange , unit of account , and store of value . (c) Wind-Down period With respect to a large platform utility— (1) if the large platform utility is, or is affiliated with a person that is, a financial institution on the date of enactment of this Act, subsection (a) shall not apply to such large platform utility until the end of the 1-year period beginning on the date of enactment of this Act