⭐ Merited by Foxpup (3)
What's the reason behind this criticize?
It seems like Facebook's Libra cryptocurrency has ruffled a few feathers. Several Congresspeople immediately took up arms and pushed for a moratorium on the Libra project while they presumably work on hastily passing regulations on cryptocurrency. Now Trump is joining the party.
Sadly for US users and traders, this is a sign that unfavorable legislation is coming down the pipeline.
I want to agree with you on that, Libra has triggered a shit storm with their announcement. The US government has not seen Bitcoin as a threat, because they defined it as a commodity and not as a currency. Now Libra comes along and it is backed by a large corporation and it challenges the Dollar as a reserve currency.
Donald Trump has built his campaign and presidency around the strengthening and protection of the US economy and the Dollar and now Libra pose a threat to the Dollar.
Expect to see a lot of protection mechanisms kicking into place to fully regulate Crypto currencies and protect the US Dollar in the near future.