On July 15th, the US official recently explicitly warned that Facebook will issue the digital currency Libra. Digital currency practitioners believe that this will mean that the industry will face more stringent supervision. US President Trump posted a series of posts on Twitter saying that he "does not like" the digital currency including Bitcoin, and said that the digital currency is "not money" and facilitates illegal activities. “Similarly, Facebook’s Libra’ virtual currency will have no status or reliability,” he added. “If Facebook and other companies want to be a bank, they must seek a new banking license and accept all Banking regulations are as restrictive as other domestic and international banks. Facebook is being criticized by legislators and regulators for its plans to create a digital currency to incite international payment markets. Facebook is working with technology groups such as Uber, Spotify, Visa and MasterCard to form a non-profit foundation based in Switzerland to manage this digital currency. These technology groups have committed to invest at least $10 million in the project. According to the Financial Times, major banks were not involved in the Libra program due to regulatory concerns and fears that the move could hamper their own digital currency plans.