Nouriel Roubini is warning again, and this time he is pointing straight at the GENIUS Act while Bitcoin sinks deeper into its slump. He said the token is not an inflation hedge and called it a “pseudo-asset class.”

Bitcoin traded around 67,400 dollars on Wednesday, down 45 percent from its late-October high. He wrote, “Calling Bitcoin or any other crypto vehicle a ‘currency’ has always been bogus.

Roubini also said Bitcoin has been tied to “the mother of all bubbles” and a “Ponzi Game.”

Nouriel pointed to its use in illegal transactions and said crypto can put the financial system in danger as lawmakers push it into banks. He mocked the GENIUS Act and said the bill should be called the “Reckless Idiot Act.”

The…