Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

11 Jul 2019

Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

WASHINGTON U.S. President Donald Trump on Thursday criticized Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank."

"If Facebook (NASDAQ:FB) 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," Trump wrote on Twitter.

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