New Crypto Bill Will “Unleash Chaos,” Warns Economist

The Senate recently passed the Genius Act. This bill establishes regulatory frameworks for the stablecoin, a cryptocurrency that will hold the same value as the US dollar. For the digital assets industry, the move is a historic milestone. But Barry Eichengreen, Professor of Economics and Politics at U.C. Berkeley, warns that the Genius Act could bring economic chaos. He joins the show to explain.