Peter Schiff harshly criticized dollar stablecoins just as the stablecoin bill, also known as the GENIUS Act, is being processed in the House of Representatives, calling them "faulty" dollar tokens.
Schiff's comments come just as U.S. President Donald Trump is urging House members to quickly approve the bill so it can be enacted immediately.
While many experts believe that dollar-pegged stablecoins will boost the supremacy of the dollar, Schiff emphasized that the fiat currency itself is losing value.
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