The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology’s Digital Currency Initiative yesterday published a white paper detailing their work on the first phase of a project—called “Project Hamilton”—designed to explore the idea of a central bank digital currency.
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As more customers engage with cryptocurrency, they are increasingly looking to banks to help them safely hold these assets. Banks are responding to this new customer demand.
Five FDIC-insured banks today announced the launch of the USDF Consortium, a group that was formed with the goal of building a network of banks to facilitate the adoption of USDF, a bank-minted stablecoin.
ABA submitted a comment letter in which it called on FASB to both prioritize their projects on troubled debt restructurings and goodwill, and asked the board to add several projects to its agenda.
Whatever the specifics, we can be certain that every business that deals with virtual currencies will be affected as well.