Federal Reserve starting to think about its own digital currency, Dudley says

As the price of the cryptocurrency continues to soar, the Federal Reserve apparently is giving thought to having a product like bitcoin for its own. William Dudley, president and CEO of the Federal Reserve Bank of New York, said at a conference Wednesday that the Fed is exploring the idea of its own digital currency, according to reports from Dow Jones. Any product likely would be well off in the future, he said, adding that it would be "very premature" to estimate when the Fed would come up with its own offering, according to Bloomberg.
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