Recently, Simon Johnson, the 2024 Nobel Prize winner in Economic Sciences, made a startling prediction. As a scholar with significant influence in both academic and policy circles, Johnson's views have garnered widespread attention.

Johnson served as the Chief Economist at the International Monetary Fund (IMF), where he dedicated a long time to researching global financial stability, crisis prevention, and institutional reform. His contributions to the fields of macrofinance and institutional economics have made him one of the few experts capable of influencing both academic consensus and policy-making.

In August this year, Johnson published an article titled "The Crypto Crisis is Coming" on the globally renowned commentary platform Project Syndicate. This platform is known as "the column of global thought leaders," providing high-quality commentary articles for over 500 media outlets in more than 150 countries, with a roster of authors that includes political leaders, central bank governors, Nobel laureates, and top scholars. This means that Johnson's views are likely to influence the thinking of global decision-makers.

In this compelling article, Johnson offers sharp criticism of a series of cryptocurrency legislations recently passed in the United States. He specifically points to the recently passed GENIUS Act and the progressing CLARITY Act. Johnson argues that these acts ostensibly aim to establish a regulatory framework for digital assets like stablecoins, but may actually lead to unintended negative consequences.

Johnson's warning has sparked widespread discussion among the financial community and policymakers. His viewpoint reminds us that when formulating policies related to emerging technologies, a more cautious and comprehensive consideration is needed. As the cryptocurrency market continues to evolve, finding a balance between innovation and risk control will become an important issue for global financial regulation in the future.