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Topic: [2014-05-19] Federal Reserve: Bitcoin Potential ‘Boon’ for Global Commerce (Read 551 times)

legendary
Activity: 1568
Merit: 1001
The article is about the FAC meeting w/ the Fed Board of Governors to discuss the effects that BTC and digital currencies would have on the "traditional banking system". Their conclusion is:
Quote
the meeting focused on how bitcoin could empower a new wave of commerce innovation – opening new markets to merchants, driving capital flows to the developing world and increasing global economic consumption.
This is what we all want to see happen as it will free more people and continue to increase value in the longer term crypto community. Of course, because there's such a small market cap, they don't feel threatened by it yet. Time will tell.
legendary
Activity: 3766
Merit: 1217
I'll be rather more cautious. It is not the Federal Reserve, which has released the statement. Instead, it was issued by the Federal Advisory Council (FAC), which is having hardly any relation with the Federal Reserve. The article is a bit confusing and the author is trying to fool the readers.
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