🚨 Minneapolis Federal Reserve President has a bias against cryptocurrency, triggering strong backlash from the crypto community!
Recently, Neel Kashkari, the president of the Minneapolis Federal Reserve Bank, faced criticism for some controversial remarks. He stated that most cryptocurrency transactions are related to drugs or other illegal activities. This statement immediately sparked strong opposition from the crypto community.
Kashkari said at a town hall meeting that people rarely use cryptocurrency to pay for goods and services, unless it is for illegal transactions. Does that sound a bit familiar? Just a few days before he made this statement, the Minneapolis Fed suggested that the government should tax or even ban crypto assets.
However, crypto experts do not see it this way. Former Coinbase regulatory advisor Hailey Lennon questioned Kashkari's comments, emphasizing that legitimate crypto projects have state-of-the-art anti-money laundering measures. She also pointed out that cash is the preferred method for funding illegal activities.
Investor Nic Carter also joined the criticism. He posted on social media X, highlighting that only 0.34% of crypto transactions are related to illegal activities and accusing Kashkari of ignoring these facts.
Now, the debate continues. Some accuse Kashkari of spreading misinformation, and there are even questions about whether he is suitable for such an important position. It seems that Kashkari's remarks have not only caused dissatisfaction within the crypto community but also raised doubts about his professional competence.
👀 So, what do you think? Do you believe cryptocurrency is primarily used for illegal activities? Or do you think these remarks are merely misunderstandings and biases against cryptocurrency? Share your thoughts and let’s discuss this issue together!
