The famous anti-crypto economist Nouriel Roubini has stated he agrees with President Donald Trump on his comment on Crypto. Though he said this is the 1st time he ever agreed with the 45th President of the US.
In a tweet, the crypto skeptic pointed out that no country will not even the United States will allow the Wild West scams of unregulated crypto with no AML/KYC. His position on cryptocurrency known globally by crypt enthusiast however, this latest tweet is coming as a reply to the comment by the US President on crypto and the Facebook Libra. He also took a swipe on Facebook by saying countries will not allow firms to be a bank or money servicers with no banking license or regulations.
1st time I agree with Trump: no country, not even USA skeptical of excessive regs, will allow the wild west scams of unregulated crypto with no AML/KYC, being a bank or money servicer with no bank license/regs. Get used to it u crypto fools/scammers. Start to comply or disappear! https://t.co/2up9lIuiRu
— Nouriel Roubini (@Nouriel) July 12, 2019
The Economist has openly expressed his disdain for all things cryptocurrrency by calling it shitcoin, scams etc at several times. In a post on Twitter, he targeted Ethereum calling the ICO which the second largest cryptocurrency has “just a scam”. He went further to say the ICO was aimed at filling the pockets of a small group of insiders including Vitalik Buterin. The sale was not a fair one and that Crypto is the mother of all scams.
The only way to be “safe” in crypto is to go back to the Stone Age. He took another swipe at Crypto security. Poking the idea behind Cold Storage and Paper Wallets, he pointed put that the idea of cold storage and paper wallet is exactly like the Stone Age and that crypto is taking us there. “Write your private key on a piece of paper and hide it in a mattress and hope you aren’t victim of a crypto robber or of paper eating rats” he said.
Recently Roubini has been in cross-hairs with the Founder of BitMEX Authur Hayes over a Talk they had which he claims the BitMEX CEO is hiding the recordings where he said he beat the Margin Trading Exchange Boss. He called out the CEO calling the Margin Trading exchange a scamshop. Continuing, he said Regulators and Law Enforcement authorities will start to take action on the Exchange hopefully.
He attacked the security of the cryptocurrency industry by saying no exchange is secure as there are hacks everywhere. This was a reply to the Japanese exchange Bitpoint which was recently hacked and resulted in the loss of over $20 million. He further claimed that “No one is using the DEX as they have no liquidity or transactions AND are hackable too!”.
The stand of the Nouriel Roubini, a Coindesk Most Influential Award winner is no new thing in crypto and he has come again and again under attack from Crypto Enthusiast. He is an Author, Professor and CEO of Roubini Macro Associates.