Industry insiders criticize the anti-cryptocurrency remarks by the Federal Reserve's Kashkari: Making such a mistake should be considered illegal.

Odaily Planet Daily News According to Kashkari, there are few transactions that occur in Crypto Assets unless it is for drugs or illegal activities. Castle Island Ventures partner Nic Carter wrote on X: “It should be illegal to make such mistakes.” Carter added that given Kashkari is one of the “top 10 most important financial regulators in the world,” his erroneous remarks are even more worrying. Brown Rudnick partner Hailey Lennon also criticized Kashkari’s erroneous remarks on the use of cryptocurrency, ‘legitimate encryption projects in this field have state-of-the-art Anti-Money Laundering policies to prevent such situations. Physical cash is the preferred method for facilitating drug trafficking and illegal activities. For the past decade, we have been fighting against this false narrative.’ Kashkari has long been skeptical of Bitcoin, and his comments are in line with those of cryptocurrency opponents such as Senator Elizabeth Warren and Congressman Brad Sherman. (Cointelegraph)