President Donald Trump does not trust virtual money, does not seem to want Facebook to launch Libra - Photo 1.

President Donald Trump does not trust virtual money, does not seem to want Facebook to launch Libra


In his latest statement, US President Donal Trump showed no support for virtual currencies, including Libra – virtual money created by Facebook with the backing of Uber and Mastercard.

"I am not a Bitcoin fan or any other virtual currency, because they are not real money and are worth changing erratically like 'air.' binding laws will lead to illegal acts, such as trafficking in illegal drugs or weapons. "

Talking about the Facebook-developed currency, he said: "Similarly, the Libra currency is not reliable. Facebook and the companies behind want to become a bank, they will be subject to the rules applicable to banks, whether private or government."

President Donald Trump does not trust virtual money, does not seem to want Facebook to launch Libra - Photo 2.

He argues that mainstream currencies like the US Dollar are the most reliable currencies. The price of Bitcoin increased continuously, for example, compared to last year, it increased by 70%, reaching 11,450 USD. "We have the most reliable currency in the world – the US dollar, and it will always be the main currency of the US and other countries."

Currently Facebook has not released its opinion, but next week, David Marcus, the head of the virtual money development division will appear before the Senate Committee to present his company's project.

President Donald Trump does not trust virtual money, does not seem to want Facebook to release Libra - Photo 3.

Facebook CEO Mark Zuckerberg

The US Treasury Secretary, Treasury Secretary, is also concerned about the use of virtual currencies for illicit jobs. "Our biggest task is not to let bad guys use virtual currencies for illegal activities. Therefore new rules will have to be applied, just like the rules we set out. for bank."

Blockchain Association, a blockchain technology company, has the opposite idea that the president should make changes because virtual currency has the potential to bring the US economy fast, along with put technology companies' power into people's hands. "If the president really wants the country to grow, then he should support blockchain technology and virtual money so they can be further expanded."


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