#1
Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”
“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations
What's the reason behind this criticize?
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#2
It seems like Facebook's Libra cryptocurrency has ruffled a few feathers. Several Congresspeople immediately took up arms and pushed for a moratorium on the Libra project while they presumably work on hastily passing regulations on cryptocurrency. Now Trump is joining the party.
Sadly for US users and traders, this is a sign that unfavorable legislation is coming down the pipeline.
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#3
I want to agree with you on that, Libra has triggered a shit storm with their announcement. The US government has not seen Bitcoin as a threat, because they defined it as a commodity and not as a currency. Now Libra comes along and it is backed by a large corporation and it challenges the Dollar as a reserve currency. Tongue
Donald Trump has built his campaign and presidency around the strengthening and protection of the US economy and the Dollar and now Libra pose a threat to the Dollar. Roll Eyes
Expect to see a lot of protection mechanisms kicking into place to fully regulate Crypto currencies and protect the US Dollar in the near future.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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