„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,” he wrote. Trump commented on Facebook’s intention to start its own cryptocurrency, Libra. „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.”
The new cryptocurrency Libra is set to launch in the first half of 2020. On Wednesday, during his testimony to members of the Senate, Federal Reserve Chair Jerome Powel said that Libra “raises serious concerns.” Earlier this month, members of the House Financial Services Committee sent a letter to Facebook demanding that it “immediately cease implementation plans” for both Libra and its digital wallet Calibra until lawmakers get their questions answered.