• Days
  • Hours
  • Mins
  • Secs
  • Wed, 18 Sep 2019, 02:51 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Trump lashes out Bitcoin, Facebook's Libra, argues they should face banking regulations

“Donald Trump” by Gage Skidmore is licensed under CC BY-SA 2.0 at https://www.flickr.com/photos/gageskidmore/29496564944

Fri, 12 Jul 2019, 08:40 am UTC

U.S. President Donald Trump said he is “not a fan” of cryptocurrencies as they are “not money” and suggested that Facebook may need a “new banking charter” if it plans to launch its cryptocurrency Libra.

In a series of Twitter posts, Trump said that cryptocurrencies are “highly volatile and based on thin air” and that “unregulated crypto-assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

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, both National and International,” he wrote.

He concluded his argument, by saying that the nation will continue to see only one fully regulated, dependable, and the most tradable currency, which is the US dollar.

It is by far the most dominant currency anywhere in the world, and it will always stay that way. It is called the United States Dollar!

There are only speculations as to what prompted Trump to post those remarks. But the tweets were posted just a few hours following a White House session on social media, wherein he criticized tech giants like Google, Facebook, and Twitter for alleged bias against conservative voices.

Amid the growing list of political oppositions, Facebook is now bracing for its upcoming hearings next week at both the US House Financial Services Committee and the Senate Banking Committee to discuss issues and concerns about the Libra cryptocurrency project.

Meanwhile, Libra top executive David Marcus has attempted to ease worries and concerns by publishing a note on Facebook and writing a letter to policymakers to address “some questions and a few misunderstandings.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,262.10 (+0.01%)
  • Ethereum (ETH) $212.55 (+7.64%)
  • XRP (XRP) $0.306300 (+17.34%)
  • Bitcoin Cash (BCH) $325.76 (+6.06%)
  • Litecoin (LTC) $75.58 (+4.10%)
  • Bitcoin (BTC) $10,262.10 (+0.01%)
Sep 17, 2019 (Tuesday)
14:34
Wells Fargo to pilot internal blockchain-based digital currency for payments
12:57
Marsh, Arch Insurance (UK) Limited launch insurance solution for digital assets ‘Blue Vault’
12:18
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:17
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:45
Crypto exchange Binance backs Chinese crypto news portal Mars Finance
10:55
Crypto Technicals: XMR/USD rejected at 200-DMA, scope for resumption of weakness
10:18
Hedera Hashgraph blockchain goes live with 26 dapps
08:38
Crypto Technicals: Ethereum pauses shy of $200 mark, set to extend bullish momentum
07:38
Harbor tokenizes iCap Equity’s $100M real estate funds using ethereum blockchain
06:48
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
06:02
Women in Leadership: Publicis Sapient hires Merril Lynch veteran Priya Bajoria as SVP Financial Services
05:24
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
05:17
Crypto payment services BitPay to roll out Ethereum support in the coming weeks
04:37
Blockchain food provenance platform OpenSC secures $4M in seed funding
04:03
Australia's REIQ partners with Igloo to develop blockchain-based tenancy agreements
03:48
Crypto exchange OKEx Korea to remove all privacy coins, including monero, dash, zcash, over FATF's 'travel rule'
03:39
Aventus unveils new ticketing protocol Aventus Classic and $15K prize for blockchain developers
03:35
C4IR UAE, World Economic Forum introduce blockchain accelerator program at Dubai's Area 2071
Sep 16, 2019 (Monday)
11:57
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:31
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft