On Thursday (11), US President Donald Trump said he favored the creation of regulations aimed at crypto-coins such as Bitcoin and Libra – Facebook’s new digital currency.
The head of the executive branch in the United States published a sequence of tweets to explain the situation. For Trump, crypto-coins can not be considered as “money” since they do not exist in the real world and have high volatility.
The president of the United States still points out that for companies from other sectors to provide the service, they should open a banking institution and be under other rules for the segment.
More specifically, the direction of Donald Trump’s criticism is geared to Facebook’s plan to launch the world’s Libra by 2020. The social network wants its digital currency to serve functions such as transfers and payments.
Another impasse on Facebook
US central bank president Jerome Powell has already stated that Facebook’s initiative will not succeed if the platform fails to clarify points of privacy and security for the customer.
The American body still has a team dedicated solely to follow the progress of Libra and to mediate contact with other countries.