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PoliticsTrump knocks Bitcoin, Facebook cryptocurrency: 'Not a fan'

04:20  12 july  2019
04:20  12 july  2019 Source:   thehill.com

House lawmakers officially ask Facebook to put Libra cryptocurrency project on hold

House lawmakers officially ask Facebook to put Libra cryptocurrency project on hold ‘These vulnerabilities could be exploited and obscured by bad actors’

President Trump denounced various cryptocurrencies , including Facebook 's newly announced Libra, on Thursday as lawmakers and "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!" I am not a fan of Bitcoin and other

President Donald Trump finally weighed in on cryptocurrencies . Here's what he said.

Trump knocks Bitcoin, Facebook cryptocurrency: 'Not a fan'© Getty Images Trump knocks Bitcoin, Facebook cryptocurrency: 'Not a fan'

President Trump took aim at various cryptocurrencies including Facebook's newly-announced Libra on Thursday just hours after concluding a social media summit at the White House which involved numerous far-right personalities.

In a series of tweets, the president wrote that he was "not a fan" of digital currencies such as Bitcoin, which are not backed by the central banks of any country, calling them avenues for potential misuse or criminal activity.

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President Trump took aim at various cryptocurrencies including Facebook 's newly-announced Libra on Thursday just hours after concluding a social Hedge Fund Billionaire Griffin Knocks Bitcoin . Citadel's Ken Griffin is not a fan of digital currencies and bitcoin . "I don't have a single portfolio

Bitcoin and other cryptocurrencies are having a tough time finding love in Washington. President Donald Trump went after digital currencies, and professed his passion for the U.S. dollar in late-Thursday tweets.

"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," the president tweeted Thursday evening.

"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," he continued.

"We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable," Trump went on. "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!"

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Trump knocks bitcoin , Facebook cryptocurrency : ' Not a fan '. President Trump denounced various cryptocurrencies , including Facebook 's newly announced Donald Trump has criticized Bitcoin , Facebook ’s proposed Libra digital coin and other cryptocurrencies and demanded that companies

President Donald Trump expressed his views on Bitcoin and Facebook 's Libra cryptocurrency for the first time since becoming president of the United In a three tweet Twitter thread, President Trump stated that he is " not a fan of Bitcoin and other Cryptocurrencies , which are not money, and whose

Facebook's Libra, which is actually controlled by a Swiss nonprofit but will be accessible through a virtual wallet controlled by one of the company's subsidiaries, is set to launch next year. It would allow users to send and receive currency through the system, while the cryptocurrency itself is backed by Facebook and several other major corporations.

The tweets came Thursday after the president invited several right-wing media figures to the White House for a social media summit, where the group heard about the White House's proposed "regulatory and legislative solutions" to stop supposed bias against conservatives on Facebook and other platforms.

"We have terrible bias, we have censorship like nobody has any understanding or nobody can believe," the president said Thursday.

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Senators grill Facebook on its plans for Libra cryptocurrency.
Senators grill Facebook on its plans for Libra cryptocurrency

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