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….

37.2K people are talking about this

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….
….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…

11.4K people are talking about this

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

16.3K people are talking about this

Trump added that Facebook “must seek a new banking charter and become subject to all banking regulations” before it launches Libra.

While there is no clear legal standard that would require Facebook to register as a bank, Trump’s assertion that the company would be subject to international banking regulations appears “largely correct,” according to Morningstar equity analyst Eric Compton.

“Trump’s tweet is also just another example of political pressure on Libra and Facebook, another hurdle which we think will be difficult to overcome,” Compton added. “We think it will be a steep, uphill climb for Libra.”

Late Friday, reports surfaced that the Federal Trade CommissionOpens a New Window. voted this week to approve a $5 billion settlement with FacebookOpens a New Window. to resolve a lengthy probe into the social mediaOpens a New Window. giant’s data privacy practices. The potential fine would represent the largest privacy-related civil penalty the FTC has imposed and thus, the largest fine imposed on a technology company