His attention to digital currencies this time the President of the United States turned, Donald Trump, as it decided to take a critical stance against cryptocurrencies.
Σspecifically, he commented Bitcoin, the new digital currency Pound Facebook, and more. He mentioned that "if they want to become banks", Then they should be subject to American and global regulations.
«I am not a fan of either Bitcoin or other cryptocurrencies. They are not money, their value is extremely volatile and it is based on “beaten air", Trump writes in Twitter.
"If Facebook and other companies want to become banks, they will have to look for a new Banking Charter and be subject to all Banking Regulations, as well as other National and International Banks.", He added.
Facebook, the White House, the US Federal Reserve and the Treasury Department did not immediately respond to requests for comment.
Trump's comments come a day after Federal Reserve Chairman Jerome Powell told lawmakers that Facebook's plan to create a digital currency called Libra can only move forward if it resolves privacy issues. , money laundering, consumer protection and economic stability.
Powell said the Fed has set up a task force to monitor the project and coordinate with other central banks. The US Financial Stability Supervisory Board, a regulator that identifies risks to the financial system, is also expected to review.
Facebook announced last month that it would launch its cryptocurrency worldwide in 2020. Facebook and 28 partners, including Mastercard Inc, PayPal Holdings Inc and Uber Technologies Inc, will form the Libra Association. Currently, no bank is part of the group.
JPMorgan Chase & Co, one of the largest US banks, plans to launch its own digital currencies.
Bitcoin, the most popular digital currency, was created in 2008 as an alternative to currencies controlled by governments and banks, but cryptocurrency transactions remain largely out of control. The market has also faced charges of money laundering and terrorist financing.
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