US President Trump tweeted about cryptocurrency on his personal Twitter yesterday, indicating that he is not a cryptocurrency supporter, pointing to the value of the cryptocurrency is volatile and based on thin air. He admits that the United States has only one currency, which is strong and reliable, and will be the most important currency in the world.
Trump said in the tweet that unregulated cryptocurrencies can be used for illegal purposes, such as drug trafficking or other criminal acts. At the same time, the turmoil caused by Facebook’s cryptocurrency Libra in recent months, many central banks and regulators around the world are worried about the impact on the financial system. Trump thinks that if Facebook or other companies want to become a bank, they will be regulated by all banking regulations, both locally and internationally.
….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…
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Trump also specifically mentioned that the US dollar is the only real currency in the United States, and its performance has never been seen before. It is both credible and reliable and is the most powerful currency in the world.