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Crypto currency is not "money," says Trump



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Donald Trump said on Thursday that his distrust of crying out – which is not really money in his eyes – warned that those who love Facebook wanted to start there, should comply with the rules governing banks.

"I'm not a big fan of cybercurrency, which is not money and whose cost is very variable and based on nothing," the president said in the middle of the evening, insisting that these virtual currencies are generated electronically, which guarantees greater discretion and virtually impossible to track. , facilitated illegal activities.

Cryptic flourishes flourished after a lot of the feelings created by Bitcoin; but this is the announcement on June 18th of Facebook that he will launch an adventure with Teresa, causing a shock wave among financial regulators around the world.

With more than 2 billion users, the electronic money that the world's first social network wants to launch in 2020 with many partners may well violate the entire monetary ecosystem.

Mr. Trump does not believe him. For the American president, Teresa will have "little worth and reliability."

But he warned Facebook and other companies that if they want to become banks, they will have to comply with the rules both in the United States and around the world.

"We only have one currency in the United States (…), and it's called the US dollar," said the White House tenant.

The situation is coming?

The sign of issues and even concern, the announcement of the arrival of Libra and the rise of cryptovagnets in general will be the subject of a report presented to the G7 countries at a meeting next week.

"The more we explore this project, we, the community of regulators, the more we have serious questions and potential reservations," warned Francois Villero de Gallhout, Governor of the Bank of France. His FRI colleague also returned to this topic on Wednesday and Thursday before Congress.

"I think it will be necessary to carry out a careful and thorough risk assessment," that the Wagr currency project, which, "given the size of the Facebook network, has potential" is very likely to become a systemically important currency, "warned Jerome Powell on Thursday.

Some selected Americans have already asked for a freeze of the Facebook project.

According to Facebook, in 2020, Teresam will have to offer a new form of payment outside of traditional banking schemes: it is the cornerstone of a new ecosystem free of a bar of various currencies, a tool that might be of particular interest to the banking system in countries, for example, developing countries.

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