Minneapolis Fed's Kashkari Calls Crypto 'Basically Useless'

Published at 2026-01-14 21:00:18

Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, described cryptocurrencies as "basically useless" in comments this week, reinforcing a skeptical view from a senior central bank official. The blunt assessment comes as the industry seeks broader mainstream adoption and clearer rules; a top Fed voice dismissing crypto publicly can shape both public perception and policymaker priorities.

While Kashkari's comment doesn't change technology or market structure by itself, it matters because Fed officials influence regulatory debate and investor confidence. Crypto firms and supporters may see the remark as a reminder that winning institutional legitimacy still faces resistance from influential policymakers, and that regulatory scrutiny could remain elevated as lawmakers and regulators craft frameworks.

Federal ReserveCryptocurrencyRegulationMarket SentimentNeel Kashkari

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Coinbase CEO Brian Armstrong said there is no clash with the White House and that talks remain ongoing as the industry works on proposals tied to the CLARITY market-structure bill. The focus is on ways to support community banks' role in crypto.

CoinbaseBrian ArmstrongCLARITYCommunity BanksRegulationUS Politics

Published at 2026-01-18 00:15:08

Georgia Orders Shutdown of Unlicensed Crypto ATMs

State authorities ordered Virtual Assets LLC to cease operations after the firm failed to demonstrate it was an authorized money transmitter. The action removes access to the company’s ATM network while regulators assess compliance.

Crypto ATMsRegulationVirtual Assets LLCGeorgiaCompliance

Published at 2026-01-17 21:45:06

Texas, New Hampshire Lead U.S. Race to Put Bitcoin on State Balance Sheets

Texas and New Hampshire are among a growing number of U.S. states moving to add Bitcoin (BTC) to their balance sheets as Congress advances a federal crypto market structure bill. The actions signal rising state-level appetite for digital-asset exposure and could shape wider treasury practices.

BTCRegulationBitcoinStateFinanceUnitedStates

Published at 2026-01-17 15:45:05

California fines Nexo $500K over unlicensed loans, stalling US comeback

California regulators have fined crypto lender Nexo $500,000 for issuing thousands of loans without a required license, creating a setback for the firm's plans to resume U.S. operations.

RegulationCrypto LendingCaliforniaEnforcement

Published at 2026-01-17 13:00:08

Senators Push Back on Tim Scott’s Broad Crypto Bill

Senate Banking Chairman Tim Scott's sweeping crypto bill faces sharp criticism from Senate Judiciary Chairman Chuck Grassley and ranking member Dick Durbin, who say the measure raises serious concerns. The bipartisan pushback could slow or reshape the proposed regulatory overhaul.