Trump Warns Facebook Over Its Plan to Create a Digital Currency
- President’s entrance into crypto debate could affect market
- Scrutiny of Facebook’s Libra coin has come from both parties
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President Donald Trump on Thursday night warned Facebook Inc. over its plan to create a digital currency, the Libra, a move that poses a new obstacle to the company’s cryptocurrency ambitions.
“Facebook Libra’s ‘virtual currency’ will have little standing or dependability. 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,” Trump said in a series of posts on Twitter.