Trump Criticizes Facebook's Plans to Launch 'Libra' Cryptocurrency

President Trump sharply criticized Facebook’s plans to enter the cryptocurrency market, tweeting that the United States has “one real currency” and suggesting the social media 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.”