US President Donald Trump has swapped to crypto currency. In a tweet he wrote that unregulated crypto coins can be used for criminal activities. About Facebook's plan to set up his own digital currency, he says that the social media company must then apply for a banking license.
"We only have one real currency in the United States and it is stronger than ever," said the US president. "It is by far the most dominant currency anywhere in the world and it will always be that way."
Earlier on Thursday, Jerome Powell, president of the American central bank, expressed his concerns about the libra, the crypto currency of Facebook. He is particularly concerned about privacy issues, money laundering and consumer protection.
Some market followers also see a reason for the fall in the value of the bitcoin this week in the critical remarks made by policy makers. Since Wednesday, the most popular digital currency has fallen in price by 10 percent. At its peak, the currency then cost 13,000 dollars (more than 11,500 euros), the value has now fallen to 11,700 dollars.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity ....Avatar