{"id":34010,"date":"2020-12-25T16:55:35","date_gmt":"2020-12-25T14:55:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34010"},"modified":"2025-08-28T16:36:39","modified_gmt":"2025-08-28T13:36:39","slug":"nouriel-roubini-biden-to-crack-down-on-the-cryptocurrency-cesspool","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nouriel-roubini-biden-to-crack-down-on-the-cryptocurrency-cesspool\/","title":{"rendered":"Nouriel Roubini: Biden to Crack Down on the &#8216;Cryptocurrency Cesspool&#8217;"},"content":{"rendered":"<p>An economics professor and cryptocurrency critic Nouriel Roubini again predicts Bitcoin&#8217;s death\u2014this time at the hands of the new Biden administration.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/jchervinsky?ref_src=twsrc%5Etfw\">@jchervinsky<\/a> : you are delusional. Biden\u2019s team, starting with Yellen who was my boss at CEA, will crack down on this criminal tax evading &#038; AML-KYC-TFC-evading crypto\/shitcoins cesspool much more than Mnuchin. Get a life as you have become a crypto hired gun cheerleader\/enabler <a href=\"https:\/\/t.co\/558ziHBUWg\">https:\/\/t.co\/558ziHBUWg<\/a><\/p>\n<p>\u2014 Nouriel Roubini (@Nouriel) <a href=\"https:\/\/twitter.com\/Nouriel\/status\/1341929851826171914?ref_src=twsrc%5Etfw\">December 24, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cJoe Biden will go much further than Donald Trump and will fight tax evasion using shitcoins from the crypto cesspool,\u201d said Roubini.<\/p>\n<\/blockquote>\n<p>The crypto-skeptic&#8217;s tweet targeted lawyer Jake Chervinsky, who criticized the <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sm1223\" target=\"_blank\" rel=\"noopener noreferrer\">statement<\/a> by the White House&#8217;s financial markets regulatory working group (PWG). It offers an assessment of the key regulatory aspects surrounding the use of dollar-backed stablecoins.<\/p>\n<blockquote>\n<p>\u201cMembers of the PWG acknowledge that stablecoins used as payment systems can enhance efficiency and competition, reduce costs and contribute to broader financial inclusion,\u201d the group&#8217;s statement said.<\/p>\n<\/blockquote>\n<p>But Chervinsky drew attention to another part of the document, in which the PWG proposes identifying all participants in transactions.<\/p>\n<blockquote>\n<p>\u201cFrankly, there is no chance this will become a binding rule or law in the near future. It is simply another personal view of Treasury Secretary Mnuchin,\u201d wrote the lawyer.<\/p>\n<\/blockquote>\n<p>Earlier in November, Roubini <a href=\"https:\/\/u1f987.com\/en\/news\/nouriel-roubini-bitcoin-is-not-money-but-could-serve-as-a-store-of-value\">called<\/a> the use of the term \u201ccryptocurrency\u201d in relation to Bitcoin a misnomer.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An economics professor and cryptocurrency critic Nouriel Roubini again predicts Bitcoin&#8217;s death\u2014this time at the hands of the new Biden administration.<\/p>\n","protected":false},"author":1,"featured_media":34011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2020,27],"class_list":["post-34010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nouriel-roubini","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"41","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34010"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34010\/revisions"}],"predecessor-version":[{"id":34012,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34010\/revisions\/34012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34011"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}