US President Donald Trump has told Facebook and bitcoin they need to meet banking regulations if they want to develop a currency and become banks. Photo: AFP

Donald Trump blasts bitcoin, Facebook Libra, demands they face banking regulations

  • Trump’s comments mark a change from the White House’s usual silence on the subject even as federal regulators have grappled with how to regulate virtual coins
  • The market reaction to Trump’s comments was muted. Bitcoin saw little change from its level before Trump tweeted
Topic |   Donald Trump

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US President Donald Trump has told Facebook and bitcoin they need to meet banking regulations if they want to develop a currency and become banks. Photo: AFP
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Employees check fans on mining machines at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada. Photo: Bloomberg

Facebook’s Libra forcing China to step up plans for its own cryptocurrency, says central bank official

  • Wang Xin, director of the People’s Bank of China research bureau, warns the new digital currency could have major impact on monetary policy and financial stability
  • PBOC was the first major central bank to study digital currencies in 2014, a step to counter the challenge from cryptocurrencies including bitcoin
Topic |   Facebook Libra

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Employees check fans on mining machines at the Bitfarms cryptocurrency farming facility in Farnham, Quebec, Canada. Photo: Bloomberg
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