U.S. President Donald Trump tweeted Thursday that he is “not a fan” of cryptocurrencies, saying they were “not money” and citing their price volatility relative to the dollar.
Trump also criticized Facebook’s Libra cryptocurrency project, which was revealed last month, saying it “will have little standing or dependability.”
“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National […] and International.”
“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he said.
In a final tweet, he added:
“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”
Donald Trump image via Shutterstock