{"id":141492,"date":"2020-12-25T13:05:21","date_gmt":"2020-12-25T10:05:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-and-yellen-will-crack-down-on-crypto-criminal-cesspool-nouriel-roubini\/"},"modified":"2020-12-25T13:05:21","modified_gmt":"2020-12-25T10:05:21","slug":"biden-and-yellen-will-crack-down-on-crypto-criminal-cesspool-nouriel-roubini","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-and-yellen-will-crack-down-on-crypto-criminal-cesspool-nouriel-roubini\/","title":{"rendered":"# Biden and Yellen will crack down on crypto &#8216;criminal cesspool&#8217; \u2014 Nouriel Roubini"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a39b7fce7cfa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a39b7fce7cfa\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-and-yellen-will-crack-down-on-crypto-criminal-cesspool-nouriel-roubini\/#Roubini_to_pro-Bitcoin_lawyer_%E2%80%9CYou_are_delusional%E2%80%9D\" >Roubini to pro-Bitcoin lawyer: &#8220;You are delusional&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-and-yellen-will-crack-down-on-crypto-criminal-cesspool-nouriel-roubini\/#Bitcoin_and_altcoins_refuse_to_die_this_year\" >Bitcoin and altcoins refuse to die this year<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Biden and Yellen will crack down on crypto &#8216;criminal cesspool&#8217; \u2014 Nouriel Roubini <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) naysayer Nouriel Roubini believes that incoming U.S. president Joe Biden will go much further than Donald Trump in controlling cryptocurrency.<\/p>\n<p>In a fiery <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Nouriel\/status\/1341929851826171914\">Twitter debate<\/a> on Dec. 24, Roubini, who is known for both his dislike of crypto and his ability to call market bottoms by mistake, called the sector a &#8220;cesspool.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Roubini_to_pro-Bitcoin_lawyer_%E2%80%9CYou_are_delusional%E2%80%9D\"><\/span>Roubini to pro-Bitcoin lawyer: &#8220;You are delusional&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Roubini was responding to Jake Chervinsky, a lawyer studying the fallout from the recent <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that U.S. lawmakers were demanding that stablecoin payments implement on-chain Anti-Money Laundering and Know-Your-Customer (AML\/KYC) identification processes.<\/p>\n<p>Chervinsky argued that the idea currently had &#8220;exactly zero chance&#8221; of becoming an enforceable law. Rather, it represented the &#8220;personal views&#8221; of Steven Mnuchin, the Treasury Secretary under Trump soon to be replaced by Biden&#8217;s pick, Janet Yellen.\u00a0\u00a0<\/p>\n<p>&#8220;You are delusional,&#8221; a visibly irate Roubini retorted. <\/p>\n<blockquote><p>&#8220;Biden&#8217;s team, starting with Yellen who was my boss at CEA, will crack down on this criminal tax evading &amp; AML-KYC-TFC-evading crypto\/shitcoins cesspool much more than Mnuchin. Get a life as you have become a crypto hired gun cheerleader\/enabler.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_and_altcoins_refuse_to_die_this_year\"><\/span>Bitcoin and altcoins refuse to die this year<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Cryptocurrency skeptics have been buoyed this week by news that U.S. regulator the Securities and Exchange Commission (SEC) had decided to file a lawsuit against blockchain payments network Ripple. The largest investor in the fourth-largest cryptocurrency, XRP, Ripple saw a 60% drop in the value of the token once the news became public.<\/p>\n<p>At the same time, commentators noted that Bitcoin had barely reacted to the legal challenge. In the long term, however, surveys have shown that many remain concerned about the potential for government bans to impact Bitcoin&#8217;s success.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>Proponents argue that this is impossible. The most effective way of reducing demand for a fully-decentralized asset, they claim, is for governments to reintroduce free markets on a sound monetary standard such as gold \u2014 an unlikely eventuality.<\/p>\n<p>&#8220;Bitcoin can&#8217;t be easily banned,&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/saifedean\/status\/1149679956756238337\">Saifedean Ammous<\/a>, author of &#8220;The Bitcoin Standard,&#8221; summarized last year. <\/p>\n<blockquote><p>&#8220;If people want to use it, they&#8217;ll find a way. If you want to stop it, you want to undermine the incentive to use it. Nothing would do that like a free market in banking based on a gold standard.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/93b95411-1093-43a5-9bf0-bf2a757b3e79.jpg\"><figcaption style=\"text-align: center;\"><em>Bitcoin vs. historical bubbles comparative chart. Source: James Todaro\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Meanwhile, the outlook for Roubini if he continues his current lambasting of Bitcoin and altcoins looks bleak. As data shows, his outbursts have almost exactly matched local price lows for BTC\/USD, making the economist an accidental bellwether for those looking to enter the market to profit.<\/p>\n<p>Fellow detractor Peter Schiff has a similar track record when it comes to Bitcoin itself.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/biden-and-yellen-will-crack-down-on-crypto-criminal-cesspool-nouriel-roubini\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Biden and Yellen will crack down on crypto &#8216;criminal cesspool&#8217; \u2014 Nouriel Roubini &#8221; Bitcoin (BTC) naysayer Nouriel Roubini believes that incoming U.S. president Joe Biden will go much further than Donald Trump in controlling cryptocurrency. In a fiery Twitter debate on Dec. 24, Roubini, who is known for both his dislike of crypto&#8230;<\/p>\n","protected":false},"author":1,"featured_media":141493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/aaf39828-3583-4f17-bf8c-f025105fcf7b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74858,79281,73785,70934],"class_list":["post-141492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-regulation","tag-nouriel-roubini","tag-markets","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/141492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=141492"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/141492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/141493"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=141492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=141492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=141492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}