Trump Warns Facebook on Libra as He's 'Not a Fan' of Cryptocurrencies

The transcript discusses Facebook's announcement of a new initiative, possibly involving cryptocurrency, and the subsequent reactions from key figures like Jay Powell and President Trump. Concerns about regulation and the potential global impact of Facebook's actions are highlighted, with discussions on how this could challenge existing monetary authorities. The uncertainty around regulating cryptocurrency and Facebook's influence is also addressed.

What is the significance of Congress's interest in Facebook's cryptocurrency plans?

In what ways could Facebook's cryptocurrency challenge existing monetary authorities?