Peter Schiff Blasts Trump’s Crypto Laws as Dollar Doom Looms
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.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
