President Donald Trump on Thursday sharply criticized Facebook’s plans to enter the cryptocurrency market, tweeting that the U.S. has “one real currency” and suggesting the social-networking giant may need to submit to heightened banking regulation.
In a series of tweets, Trump said Facebook’s plans to help launch the currency, called Libra, would have “little standing or dependability,” warning that if Facebook wanted to become a bank it should seek “new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International.”
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