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Fri Jul 12, 2019, 08:14 AM

Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook’s proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to “become a bank.”

“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,” Trump wrote on Twitter.

“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 added.

Facebook said last month it would launch its global cryptocurrency in 2020. Facebook and 28 partners, including Mastercard Inc (MA.N), PayPal Holdings Inc (PYPL.O) and Uber Technologies Inc (UBER.N), would form the Libra Association to govern the new coin. No banks are currently part of the group.

Read more: https://www.reuters.com/article/us-usa-trump-cryptocurrency/trump-blasts-bitcoin-facebooks-libra-demands-they-face-banking-regulations-idUSKCN1U701I

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Reply Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations (Original post)
TexasTowelie Jul 12 OP
tanyev Jul 12 #1
rampartc Jul 12 #2

Response to TexasTowelie (Original post)

Fri Jul 12, 2019, 08:16 AM

1. "Or they could give me a cut of their operations."

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Response to TexasTowelie (Original post)

Fri Jul 12, 2019, 08:42 AM

2. trump is right on this one

but i'm sure he accepts bitcoin at his shady businesses

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