Trump Dismisses Viability of Facebook Cryptocurrency Libra
Facebook’s planned cryptocurrency Libra will have “little standing or dependability,” President Donald Trump tweeted Thursday (see 1907050025). Social media companies wanting to become banks must seek a new banking charter and subject themselves to all banking regulations, Trump said. “I…
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am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” he said. Trump raised concern about digital currencies facilitating “unlawful behavior, including drug trade and other illegal activity.” The company didn’t comment.