Economist Nouriel Roubini sharply criticized the policy of President Donald Trump’s administration toward digital assets. In his words, the official crypto rhetoric is being shaped under the influence of “crypto‑fraudsters”.

In his article, Roubini argues that the active promotion of cryptocurrencies is not a step toward technological modernization of the financial system but a risky experiment conducted without an understanding of the principles of global monetary circulation.

He notes that Bitcoin has fallen more than 40% from its 2025 peak while gold has logged a stunning rally over the same period. From his viewpoint, that dynamic reflects the consequences of a political agenda oriented toward the interests of the crypto industry.

Roubini singled out the GENIUS bill for criticism, calling it an example of regulatory recklessness. He believes the law creates conditions for a return to a 19th‑century “free banking” model characterized by high instability. Besides, he compared issuing stablecoins outside traditional banking oversight to “a ticking time bomb.”

The most serious threat, Roubini says, is the possibility of interest being paid on stablecoins. Such a mechanism, he argues, could displace traditional banks and undermine the foundations of the US financial system.

Roubini also stated that events over the past year have shown that Bitcoin does not function as a full‑fledged currency or as a hedge against inflation or geopolitical risk.

The analyst believes the future monetary system will be determined by gradual evolution rather than the abrupt transformations in the crypto industry.