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Trump Tweets Opposition to crypto, especially to Libra and Bitcoin

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The President of the United States, Donald Trump, has expressed his opposition to all crypto-currencies, citing Bitcoin and Libra, in a series of tweets published at 8:15 pm EST on July 11.

The full text of the three tweets reads as follows:

"I am not a fan of Bitcoin and other crypto – currencies, which are not money, and whose value is very volatile and based on the cutting edge. Unregulated cryptographic assets can facilitate illicit behavior, including drug trafficking and other illegal activities.

"… Similarly, the" virtual currency "of Facebook Balance will have little impact or reliability.If Facebook and other companies wish to become a bank, they must seek a new bank charter and be subject to all banking regulations, like other banks, national …

"… and international. In the United States, we have only one real currency, and it is stronger than ever, both reliable and reliable. It is by far the most dominant motto in the world and will always remain so. That's what is called the US dollar!

What prompted Trump to publish these tweets is speculation. They came on the night of Trump's "Social Media Summit," an in camera conference that brought together many notable right-wing social media outlets. The event may have placed Facebook at the forefront of Trump's concerns.

Presumably, the congressional congressional hearings on Facebook's Libra project scheduled for next Tuesday and Wednesday, as well as July 16 and 17, also prompted Trump to tweet about the subject.

The expected outcome of these tweets in terms of policy or practice remains unclear.

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