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US President Donald Trump says he's "not a fan" of Bitcoin



Donald J. Trump tweeted Thursday that he is "not a fan" of crypto course values, saying that they were not "money" and referring to their price volatility against the dollar in his first public comment on the crypt since becoming president of USA

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Trump also criticized the Facebook's Libra cryptocurrency project in subsequent tweets, saying that it would have little standing or reliability and suggest that US regulators would submit the social media giant to regulation

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and Other companies want to become a bank, they must seek a new bank charter and be subject to all bank settlements, just like other banks, both national […] and international. "

Trump has criticized Facebook earlier for his actions in the ban on the right characters, along with other social media. To date, however, he has not discussed Facebook's crypto contest plans. The company first published its diploma and supporting documentation for Libra last month. [1

9659002] The 45th President held a "Social Media Summit" earlier on Thursday to address these concerns.

Regulators and lawmakers across the United States have noted Libra, with both the US Senate Bank and the House Financial Services Committee, planning Hearings next week with Facebook's blockchain, leader David Marcus.

The Senate Committee has particularly expressed concern about Facebook's track record with user data and privacy, and writes an open letter to the company in May, Marcus responded to the letter earlier this week and told lawmakers Facebook did not want to collect any personal financial credentials on its own.

Wednesday said Fede ral Reserve Rapporteur Jerome Powell that Libra should not be allowed to move forward unless and until the company handles money laundering and knowledge of your customer.

Financial stability is also a factor that Powell addressed, with lawmakers in both houses, and asked that Facebook created a unit in Switzerland affiliated with

Facebook refused to comment on Trump's comments.

& # 39; Illegal Behavior & # 39;

In his tweets on Thursday Trump aimed at the possibility of using cryptographic baskets in illegal activities, especially with reference to drug trafficking.

"Unregulated cryptographic evidence may facilitate illegal behavior, including drug trafficking and other illegal activity," he said.

In a final tweet he added:

"We only have a real currency in the United States and it is stronger than ever, both reliable and reliable. It is the clearly dominant currency anywhere in the world, and will always be like that. It's called US dollars! "

While Trump himself had not weighed in on crypto carts before Tuesday, his finance minister has been a strong prerequisite for larger cryptocurrency regulations.

Steven Mnuchin has called for greater crypto regulation since the beginning of 2018, and urged the G20 to raise the issue during a (in time) upcoming meeting in March.

This year, Financial Action Task Force issued guidelines for central banks, your customer information. The US Treasury held the FATF presidency until the end of June.

"We will not allow cryptocurrency to become equivalent to secret numbered accounts [and] we will allow proper use, but we will not tolerate the continued use of illegal activities," Mnuchin said in remarks before the government's publication.

On the other hand, Acting White House Chief of Staff Mick Mulvaney has previously called for a more limited set of rules, saying: "If we over-regulate and discourage people from entering the market, it has bad consequences."

Donald Trump image via Shutterstock


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