Donald Trump Lashes Out at Facebook’s Libra Cryptocurrency
President Donald Trump on Thursday night warned Facebook Inc. over its plan to create a digital currency, the Libra, a move that poses a new obstacle to the company’s cryptocurrency ambitions. “Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks,” Trump said in a series of posts on Twitter.
Bitcoin Price Buoyant After Trump Says He’s ‘Not a Fan’
Bitcoin was starting to reverse upwards July 12 as a critical tweet from United States president, Donald Trump, became a hot talking point across cryptocurrency. Volatility has lessened over the past nine hours, despite the first-ever public comments from Trump on crypto, which turned out to be highly negative. “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,” he tweeted earlier. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he added.
Turkey Puts Central Bank Digital Currency on New Economic Roadmap
The government of Turkey has included a central bank-issued digital currency in its 2019–2023 economic roadmap. As per the 11th Development Plan from the Presidency of the Turkish Republic, “Blockchain-based digital central bank money will be implemented.” Turkey has been considering issuing a national cryptocurrency for some time.
20 Millions of Addresses Hold $1 of Bitcoin and More
Despite recent weakness, Bitcoin is trending higher. Encouragingly, there are predictions that this could Bull Run could push it to the $100,000 mark. The excitement over its value aside, crypto users on Reddit are taking on a rather unpleasant facet of the digital asset. As posted on Reddit, there are now 20,000,000+ addresses holding $1 or more of Bitcoin.
Microsoft, Google and Apple to Track Bitcoin and Crypto Owners
The Internal Revenue Service (IRS) is not cutting crypto holders any slack. Besides enlisting Chainanalysis, to track Bitcoin traders, the IRS is now casting its net even wider. The IRS is now going to use sources such as social media and open source searches to unearth crypto trading data. The revenue arm of the US government will also intercept data from electronic surveillance, interviews, and Grand Jury subpoenas to apprehend tax evaders.
Cuba ‘Studying Cryptocurrency’ to Dodge US Sanctions
Cuba is the latest country to consider using cryptocurrency to skirt U.S. sanctions. In a public address on local television, the country’s president, Migual Diaz-Canel, said the plan would raise capital for around one quarter of the population, helping to pay for reforms. Cuba has felt a severe knock-on effect from the crisis in Venezuela, which was previously a major source of aid. “We are studying the potential use of cryptocurrency… in our national and international commercial transactions, and we are working on that together with academics,” Reuters quoted economy minister Alejandro Gil Fernandez as saying.