Interesting development for cryptocurrency enthusiasts: The Federal Reserve Bank of Boston have informed that they are working together with researchers at MIT (Massachusetts Institute of Technology) to ‘build and explore a hypothetical digital currency specifically designed for bank uses.’ The report also states that for the acceptance of a CBDC (Central Bank Digital Currency)
there needs to be 'a significant change in policy and 'extensive deliberations and engagement with other parts of the federal government.'
While it is not certain how this would impact the cryptocurrency market in the short term but will most likely have a great impact in the long term if the project is successful.
Some updates: BTC/USD is maintaining stability at $11,500 – though losing market dominance due to Altcoins' rise. Bitcoin was seen not being to break past the short-term barriers of $11,600. ETH/USD has the bulls on scene and is aiming to crack $400.
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