Trump Condemns Bitcoin And Facebook’s Libra

Wired reports:

Late Thursday, President Donald Trump unleashed a three-tweet squall declaring himself “not a fan of Bitcoin and other Cryptocurrencies,” and referring to the use of “unregu­lated digital assets” for “drug trade and other illegal activities.”

He included Libra in that category, saying the platform “will have little standing or dependability” and would fall prey to similar dependability issues. He suggested Facebook would need to acquire a banking charter to proceed with its efforts.

Trump concluded with a patriotic message about the global primacy of the US dollar, suggesting he’s not comfortable with Libra or other cryptocurrencies becoming rivals.