Donald Trump suddenly gave his opinion for Bitcoin, Facebook Libra and other digital or cryptocurrency currencies. The president of the United States asked companies to comply with US regulations or globally.
Trump has written in his Twitter account that he is not a fan of bitcoin or any other cryptocurrencies that are not actual money and if Facebook wants to approach like a bank then they must follow the rules of bank.
Previously, US Federal Reserve Chairman Jerome Powell also said that the Facebook Libra project cannot be continued unless the problem is resolved.
“Libra increases important concerns about the privacy, money laundering, consumer protection, and financial stability,” said Powell, who heads the most powerful financial regulator in Uncle Sam’s country.
Facebook Libra plans to launch this year with the container Libra Association which consists of 28 companies supporting. In addition to Facebook, big names such as MasterCard, Visa, PayPal, and Uber joined the pair of goods for Libra.
Nevertheless, the issue of regulation seems to be a big obstacle. Regarding Powell’s comments, Facebook said it was ready to explain the Libra project.