🚨 Minneapolis Federal Reserve Chair has a bias against cryptocurrency, sparking strong opposition 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 provoked strong opposition from the crypto community.
Kashkari said at a town hall meeting that people hardly use cryptocurrency to pay for goods and services, unless it’s for illegal transactions. Does this sound a bit familiar? Just days before he made this statement, the Minneapolis Fed had suggested that the government should tax or even ban crypto assets.
However, crypto experts see it differently. Former Coinbase regulatory advisor Hailey Lennon questioned Kashkari's remarks, emphasizing that legitimate crypto projects have advanced anti-money laundering measures. She also pointed out that cash is the preferred method for funding illegal activities.
Investor Nic Carter also joined the chorus of critics. He posted on social media X, pointing out that only 0.34% of crypto transactions are related to illegal activities and accused Kashkari of ignoring these facts.
Now, this debate continues. Some accuse Kashkari of spreading misinformation, and some even question whether he is fit to hold such an important position. It seems that Kashkari's remarks have not only sparked dissatisfaction in the crypto community but also raised doubts about his professional capabilities.
👀 So, what do you think? Do you believe that cryptocurrency is primarily used for illegal activities? Or do you think these remarks are merely misunderstandings and biases against cryptocurrency? Come share your views, and let’s discuss this issue together!
