TOKYO -- A proposal by U.S. social networking leader Facebook to create a virtual currency called Libra is making waves. Such a currency could become the third node in a three-way struggle with the yuan and the dollar for supremacy in the 21st century.
On July 11, U.S. President Donald Trump weighed in on the debate over Libra in a series of tweets, saying: "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity." He followed up with: "If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations," and, "It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!"