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Trump criticizes Bitcoin, cryptocurrencies; Facebook Balance questions

President Donald Trump meets with reporters before boarding Air Force One to return to Washington from the Morristown Municipal Airport in Morristown, New Jersey on July 7, 2019.

Jonathan Ernst | Reuters

US President Donald Trump said Thursday that he was "not a fan" of cryptocurrencies, and suggested that Facebook might need a bank charter if the company wants to launch the digital token. Balance.

In a series of publications on Twitter, Trump said that cryptocurrencies are not money and that "unregulated cryptographic holdings can facilitate illicit behavior, including drug and drug trafficking. other illegal activities ".

"If Facebook and other companies want to become a bank, they must look for a new bank charter and be subject to all banking regulations," said the president.

Trump is not the only one to have criticized Facebook's plan to introduce Libra. Federal Reserve Chairman Jerome Powell, French Finance Minister Bruno Le Maire and Bank of England Governor Mark Carney are among the heads of government and heads of central banks who have pronounced against Libra.

Critics of crypto-currencies often question the value of bitcoin and highlight its price volatility to oppose a wider adoption of digital currencies, which the US president also pointed out in his publications.

Over the past 24 hours, the price of bitcoin has peaked at $ 12,033.74 and a low of $ 11,142.79, according to the CoinDesk industry data site.

Crypto – currencies "are not money, and their value is very volatile and based on air," Trump said.

The US president said the US dollar "reliable and reliable" should be the "only real currency in the United States".

"It is by far the most dominant currency in the world, and it will remain so forever.It's called the US dollar!" Trump said.

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