{"id":17486,"date":"2024-04-07T19:13:27","date_gmt":"2024-04-07T19:13:27","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=17486"},"modified":"2024-04-07T20:00:44","modified_gmt":"2024-04-07T20:00:44","slug":"fed-kashkari-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/fed-kashkari-bitcoin\/","title":{"rendered":"FED Manager&#8217;s Statements Against Crypto Currencies"},"content":{"rendered":"<p><strong>Neel Tushar Kashkari<\/strong>, an American banker who is president of the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Federal_Reserve_Bank_of_Minneapolis\"><b>Federal Reserve Bank of Minneapolis<\/b><\/a><span style=\"font-weight: 400\">, talked about the biggest crypto currency, Bitcoin, in a recent event in LinkedIn Live.\u00a0<\/span><\/p>\n<h2>Bitcoin as a Consumer Protection Issue<\/h2>\n<p><span style=\"font-weight: 400\">Kashkari said that he sees Bitcoin as \u201c<strong>a consumer protection issue<\/strong>\u201d, because some investors don\u2019t know how crypto investments work. In addition, he said that crypto currencies are \u201c<\/span><span style=\"font-weight: 400\">so volatile that some people could be put in a lot of harm&#8217;s way.\u201d<\/span><\/p>\n<p>He also emphasised on <strong>how crpyto currencies don&#8217;t have any utility in the economy<\/strong>, other than it is just a nice toy that some people enjoy owning and trading. In addition, he mentioned crypto currencies usage in illegal activities by saying only uses he seen are cases where people are &#8220;trying to subvert banking regulations, get around either marijuana banking, or illicit activities.\u201d<\/p>\n<p>Lastly, he mentioned how there are still no regulations about Bitcoin, &#8220;it has been around for more than a decade, and more than a decade later, there&#8217;s still no legitimate use case in an advanced democracy.\u201d<\/p>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,<\/a>\u00a0<a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates instantly.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Neel Tushar Kashkari, an American banker who is president of the Federal Reserve Bank of Minneapolis, talked about the biggest crypto currency, Bitcoin, in a recent event in LinkedIn Live.\u00a0 Bitcoin as a Consumer Protection Issue Kashkari said that he sees Bitcoin as \u201ca consumer protection issue\u201d, because some investors don\u2019t know how crypto investments<\/p>\n","protected":false},"author":6,"featured_media":17502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,640,5318],"class_list":["post-17486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-fed","tag-kashkari"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - 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