Neel believes that the crypto industry is full of scammers. It all depends on the side from where you are viewing the industry. Every industry especially financial industry is always infiltrated by scammers simply because there are huge funds involved. If scammers can package themselves and their mom existent product well, even the financial guru would fall for it. And this scammers have always been doing.
In the crypto currency industry, projects come out with good websites and team behind them, good tokenomics then go ahead to do whatever style of sales they choose to from IDO, IBO, Airdrops, Presale et al just like a registered company would rightly approach the security exchange for fund raising through sale of shares and all sorts.
The crypto industry though relatively new and evolving needs a lot of scrutiny and regulations to that could prune the market and weed out scammers even at the point of product/project entry. This would go a long way to safeguard investors and their investment, also it will instill institutional confidence in the industry as an industry to be recon with.
Though no government can stop the Crypto industry, it has come to stay. I see more and better or stringent regulations stringing up in the nearest future. Neel Kashkari is the president of federal reserve bank of Minneapolis.
