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Home News Crypto

St. Louis’ Federal Reserve is Now Tracking 4 Cryptocurrencies

Shiraz Jagati by Shiraz Jagati
June 23, 2018
in Crypto, Featured, News
0
St. Louis’ Federal Reserve is Now Tracking 4 Cryptocurrencies
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BTCWire

What can only be seen as another step forward for the alt-currency sector as a whole, the Federal Reserve Bank of St. Louis is now actively keeping tabs on the prices of four top virtual currencies.

According to an official post released on the bank’s web page, their native database called the Federal Reserve Economic Data (FRED) will now monitor the prices of:

READ ALSO

The Bitcoin Birth Date: Start of a Digital Currency Revolution

The IRS Steps Up Crypto-Related Tax Evasion Investigations

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)

Pertinent data in relation to the aforementioned currencies will be available from as early as 2014. Prices will be updated in real-time via data that is procured from leading crypto-exchange, Coinbase.

In the past, the Federal Reserve Bank of St. Louis has been linked with many research studies in relation to alt-assets, particularly Bitcoin. Not only that, the bank has also taken a progressive stance towards blockchain, giving the technology an overall favourable assessment time and again.

Last month, President of the St. Louis Fed, James Bullard, spoke to CNBC and said that

“we think blockchain technology is very interesting [..] we want to be very engaged and thoughtful [with it] as things proceed.”

He also mentioned that owing to the climate of disruption that we are currently living in, it would not be surprising if Bitcoin starts to rival the US dollar in the near future.

Disclaimer

Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. CryptoMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

Tags: BitcoinCryptocurrencyFederal Reserve BankFederal Reserve Economic DataFREDJames BullardSt. Louis Federal Reserve

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December 6, 2023

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