Trump dunks on Facebook's Libra in cryptocurrency tweetstorm
It's official: Donald Trump does not like Bitcoin.
Or, for that matter, any cryptocurrency — including Facebook's proposed Libra. He made that much clear in a Thursday evening tweetstorm dunking on the latest proposed entrant in the digital currency world.
"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," tweeted the President. "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...."
He continued that "Facebook Libra’s 'virtual currency' will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks [...]" Read more...More about Facebook, Bitcoin, Donald Trump, Libra, and Cryptocurrency