No one from the Government agencies cared when Cambridge Analytica nor was any substantive actions taken when it became evident that Facebook was disclosing user data without appropriate permissions.  

Why?

Because - no one gives shit about people and their privacy.  In fact, there were rumors that Government was using platforms like Facebook to spy on citizens. 

So, no one really cared about aspects like privacy and security of citizens.  Not until the FIAT MONOPOLY was threatened by a tech company. 

All of a sudden, breach of privacy took the center stage, which is a blatant disguise to thwart any progress in the direction of decentralization.

To be sure - we hate Facebook on principle.  We are happy that the issues of privacy are coming to light even if that is not the underlying spirit in which the proceedings have started.

President’s comment about Bitcoin is, at most, misinformed.  And thankfully- bitcoin is not libra and Governments cannot shut its progress.

As more and more Government action proceeds in this space, it will be interesting to see what happens of the prior sins of Facebook and more importantly how the legal framework is built to take blockchain technology forward.