A wave of new crypto laws signed into effect this week has drawn sharp criticism from gold advocate and Bitcoin skeptic Peter Schiff, who called the move a “legislative low point” for the United States.
President Donald Trump signed the GENIUS Act, CLARITY Act, and anti-CBDC legislation into law on Friday—widely celebrated by crypto supporters as a turning point for the industry.
However, Schiff argues the real motive is to pump Bitcoin’s image and help insiders exit at inflated prices. In his view, these laws don’t strengthen the economy, but rather pave the way for a deeper dollar crisis.
Trump also hinted at an executive order enabling retirement accounts to invest in digital assets, which Schiff believes would further destabilize the U.S. monetary system. “Bitcoiners may cheer for a dollar crash,” he wrote on X, “but gold will outlast them all when Bitcoin collapses too.”
Despite claims from some crypto executives that stablecoin laws will reinforce U.S. dollar dominance, Schiff dismissed the idea outright. He warned that dollar-backed stablecoins are no more stable than the currency they mirror—and that both are headed for decline.
The market responded with skepticism. Bitcoin fell 2% on the day, while major altcoins also pulled back after a strong rally, suggesting a classic “sell-the-news” moment.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/peter-schiff-blasts-trumps-crypto-laws-as-dollar-doom-looms/