- Trump joins Powell and Le Maire as government leaders who have spoken up against Libra.
- Trump believes that the only dependable currency in the World is the U.S. Dollar.
U.S. President Donald Trump declared that he is not a fan of cryptocurrencies, and suggested that Facebook will require a banking charter to launch the Libra token. In a tweetstorm, Trump said:
“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. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.
Similarly, 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, both National and International.
We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. 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!”
With this, Trump joins Federal Reserve Chair Jerome Powell and French Finance Minister Bruno Le Maire as government leaders who have spoken up against Libra.