Libra, Bitcoin …: Donald Trump threatens to regulate cryptocurrencies

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Maj. the 13 July 2019 at 14 h 21 min

Donald Trump said all the damage he thought of Libra, Bitcoin and cryptocurrency in general in a series of tweets. He believes that Libra, in particular, should require bank accreditation – in other words, subject to the same regulations as traditional financial institutions. Once it is not custom, these claims have earned him the wrath of his own field.

Donald Trump Libra Bitcoin

No one knows why Donald Trump chose to talk about cryptocurrencies at 3 am (Paris). But one thing is certain: not everyone likes it, even in his field. The president of the United States announced in a series of tweets that it was "Not a fan" Bitcoin and other cryptocurrencies of which "Value is highly volatile and wind based". And the Libra that Facebook wants to launch? According to the politician, this cryptocurrency will not do so "That little prestige or reliability"and must seek a banking license. And therefore present the same regulations as financial institutions.

Donald Trump threatens to regulate all cryptocurrencies as financial institutions

The charge against the cryptocurrency ends with a lively defense of the US dollar with nationalist accents: "We have only one real currency in the United States and it is stronger than ever, both safe and reliable. It is by far the most dominant motto in the world, and it will always be that way. This is called the US dollar. Now, once it is not a custom, this idea is borrowed … from the Democrats – and it doesn't like its electoral base alt-right at all. Indeed, this ranks among its ranks many libertarians. And one of the great alt-right fights is the fight against the growth of the federal state, its regulations and taxes.

The Verge quotes a tweet from far-right commentator Mike Cernovitch, who responded to Donald Trump with a biting tone: "Make a serious mistake and show a lack of vision!" – followed by a link to an article that offers Bitcoins. Or the Twitter account of the very high right Gab.com forum which in turn has reported to "President of Kushner" : "Well, the presidency of Kushner is really starting to annoy me" (Jared Kushner is the husband of Ivanka Trump and the closest adviser to the American president, ed). For now, Trump's claims do not seem to have had much effect on the course of Bitcoin, contrary to previous regulatory threats.

Read also: Libra is a threat to central banks according to a Facebook founder

At the time of writing, 1 Bitcoin was worth 10,357 euros. As for Libra, the future cryptocurrency of Facebook, its roadmap remains full of obstacles. A few days ago, the US Congress asked the social network to immediately suspend its implementation of the time to conduct a survey and impact studies. This morning the Fed announced that the cryptocurrency project review should be distributed over a year.

source: The Verge

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