Trump bombards bitcoin and other cryptocurrencies. FB must be regulated by the banking industry.

On July 12th, according to foreign media reports, on Thursday, US President Donald Trump criticized Bitcoin, Facebook's proposed digital currency Libra and other cryptocurrencies, and asked them to be behind the company. Comply with relevant banking regulations.

Trump wrote on Twitter: "I am not a fan of Bitcoin and other cryptocurrencies. These cryptocurrencies are not real currencies. Their prices often fluctuate wildly. If Facebook and other companies want to become banks, they must seek to develop The new banking charter is subject to all banking regulations."

The day before Trump made the remarks, Federal Reserve Chairman Jerome Powell told lawmakers that Facebook’s creation of a digital currency program called Libra could not continue to move forward unless it could solve Concerns about privacy, money laundering, consumer protection and financial stability.

Powell said that the Fed has set up a special working group to track the project and is coordinating with the central banks of other countries. The US Financial Stability Oversight Committee, which is expected to be formed by a regulatory body, is responsible for identifying the risks of the financial system.

Earlier Thursday, Trump criticized large technology companies at an event at the White House, saying that the companies treated the conservatives unfairly.

The Internet Association, an industry group representing large technology companies such as Facebook, Twitter and Google, said: "Internet companies are not biased against any political ideology, especially since the voices of conservatives have already had a huge impact on social media."