Banks Want to Turn Off Bitcoin as a ‘Public Utility’ for MoneyOn February 26, 2015 the Federal Communications Commission (FCC) of the United States announced, for the first time, the classification of broadband internet as a public utility. The FCC banned “paid-for priority lanes”—where cable companies and other internet service providers (ISPs) charge fees to websites for faster access—and “throttling,” i.e. the intentional slowing of internet speed to specific users. These monopolistic practices threaten a public good which, according to President Barack Obama, “has become an essential part of everyday communication and everyday life.” To FCC Chairman Tom Wheeler, “the internet has become too important to let broadband providers be the ones making the rules.”
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