JUL 24 DIGEST: Federal Reserve Publishes Study on Virtual Currency; NASDAQ to Pioneer Bitcoin Tech

The Federal Reserve published a brief paper highlighting the growth of virtual currencies; NASDAQ is expected to be the first major exchange operator to use blockchain technology, and more top stories for July 24.

Federal Reserve Publishes Study on Virtual Currencies

The Federal Reserve published a brief paper named “What Community Bankers Should Know About Virtual Currencies.”

The publication highlights the growth of virtual currencies and the fact that they still only represent a fraction of all US dollars in circulation. It also covers exchangers and intermediaries of cryptocurrencies bound to the traditional banking system.

BNP Paribas Testing Crypto in its Currency Funds

France’s biggest bank BNP Paribas is looking to add bitcoin to one of its currency funds. A source at the bank told IB Times UK that the bank has been doing beta testing involving cryptocurrency, and that the addition of bitcoin into one of the bank’s currency funds would soon be announced in Paris.

A spokeswoman for BNP Paribas said:

“We are looking at blockchain technology and how it can be applied to post trade processes to make things faster and potentially cheaper but it’s all very much projects and it’s all in testing. It’s nothing live.”

BNP Paribas to Add<p><a href=Read more ... source: Cointelegraph