The Nobel Prize winner says “Crypto is responsible for tax evasion and illegal transactions.”

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An economic expert shared his point of view on crypto assets and claimed that crypto is responsible for many types of problems.

Adoption of the cryptocurrency market is increasing day by day. Some days people praise it’s potential and some days people criticize it because of their own point of view. A popular economic expert slams crypto assets & its uses.

Read also: Cryptocurrencies have a ‘potential future’ : Former Indian RBI Governor

Paul Krugman is an economic expert. And he is an allrounder of his field and it can be identified by his success of getting nobel prize in 2008. 

As he is an economic expert, who won a Nobel prize, we can’t ignore his point of view on the crypto market.

By taking the reference of Bloomberg’s report, Paul slammed this whole crypto market and described it as an evil thing. 

Paul took the reference of Bloomberg’s article in which the infrastructure bill on crypto ( obviously related to tax on crypto activities), many arguments & criticism was mentioned. This article belongs to that matter where the U.S Senate passed that bill without going through the amendment and without clarifying what is meant by broker. And many crypto supporters, including Republican Cynthia Lummis, criticize that bill and the working system of the U.S Senate.

A Bloomberg writer explained his point of view on this bill through the article “Crypto Doesn’t Have to Enable Tax Cheats”. 

Then Paul replied to this article by targeting the point of view of the author and said 

“Yes it does. Tax evasion and illegal transactions are still the only serious uses of cryptocurrency”

Well here in this digital world every person has freedom of speech and here a popular economist shared his point of view in a negative way because he doesn’t know the positive points of view on crypto. 

Read also: Jack Dorsey plans Decentralized Bitcoin Exchange