Trump: Cryptocurrency is No Currency and Libra has Little Dependability
[ChainDD report] July 12 (ChainDD) The US president Donald Trump slashed cryptocurrencies through a series of new tweets on July 11 EST. He said he is no fan of Bitcoin or other cryptocurrencies, which are not money and have high volatility and are baseless. He thinks unregulated cryptocurrencies can fuel illegal activities such as drug deals.
As to Facebook’s cryptocurrency project Libra, Trump expected Libra will have little standing or dependability. If Facebook or other companies want to become a bank, they have to seek a new banking Charter and be subject to all the banking regulations.
Trump claimed that there is only one real currency in US and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency in the world and it will always keep that way. It is called US dollar.