Donald Trump, President of the United States, expressed his position on cryptocurrency. The politician as a whole does not approve of cryptocurrencies, in particular, he explained why he is negatively disposed towards Bitcoin and the Libra project from Facebook.
In a series of tweets, Trump made it clear that he is not a fan of Bitcoin and other cryptocurrencies. He does not consider them as money, cost is highly susceptible to volatility and is not based on anything. In addition, the president believes that the unregulated class of assets may contribute to criminal activity, in particular, he mentioned the trafficking of narcotic drugs.
I’m not a fan of bitcoin and other cryptocurrencies. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
Donald J. Trump (@realDonaldTrump) July 12, 2019
Donald Trump also commented on Libra's crypto project from Facebook. He doubted the reliability of Libra’s “virtual currency” and called on Facebook to get a traditional banking license. Trump also reminded that in the United States there is only one real currency – the dollar. This currency, according to the President of the United States, is stable, reliable, dominant and always will be.
