Minneapolis Fed President Kashkari criticizes crypto, industry responds

Minneapolis Fed President Neel Kashkari dismissed cryptocurrency as mainly used for illegal activities during a town hall, stating few legal transactions occur with crypto. According to Decrypt, his remarks drew backlash from industry figures like Nic Carter and Caitlin Long, who emphasized the sector’s anti-money laundering efforts. Despite Kashkari's skepticism, institutional crypto adoption has surged following the approval of Bitcoin and Ether ETFs.