Banking News

Donald Trump weighs in on Bitcoin and Libra

donald trump us president

At a Social Media Summit held at the White House yesterday, U.S. President Donald Trump slammed Bitcoin and Libra. There’s a little irony in his pushback against Facebook given the social network is the biggest social media outlet of all. Addressing the social media participants he said “Each of you is fulfilling a vital role in our nation – you are challenging the media gatekeepers and the corporate censors to bring the facts straight to the American People.”

And he tweeted:

In the U.S. Congress the Financial Services Committee has been particularly negative about Libra asking Facebook to halt. Facebook Calibra CEO David Marcus has responded in writing.

Other central banks and regulators have aired their views on Libra, most recently the Monetary Authority of Singapore. They include central bank The People’s Bank of China, The Bank of England, the U.K. financial regulator, the Governor of the Bank of France Villeroy de Galhau, and leading Chinese economist Zhu Min who have all made statements.