Minneapolis Fed president Neel Kashkari said cryptocurrencies are "utterly useless" and described stablecoins as a "buzzword salad," arguing stablecoins aren't an improvement over Venmo and fail basic real-world viability tests.
Minneapolis Fed President Neel Kashkari on Jan. 14 labeled cryptocurrencies "basically useless," underscoring continued skepticism from a senior Fed policymaker. His remarks signal potential political and regulatory headwinds for the industry.