Fed Cashash: Cryptocurrencies may be useful in the future, but currently useless

In a recent event, Neel Kashkari, governor of the Federal Reserve Bank of Minneapolis, said that cryptocurrencies "like a huge trash can" lack the basic characteristics of any stable currency. He said, "The US dollar is valuable because the U.S. government has a legal monopoly in the production of U.S. dollars. In the world of virtual currencies and cryptocurrencies, there are thousands of junk coins. The US Securities and Exchange Commission (SEC) Are involved in combating this kind of behavior. There is almost no threshold for creating new cryptocurrencies. In my opinion, fraud is far more than useful. Maybe 5 years, 10 years, or 20 years later, there will be some useful Things come out of it, but so far all of this is burning garbage. "