Fed Considering Its Own Digital Currency as Bitcoin breaks $11,000

William Dudley, president of the Federal Reserve Bank of New York, commented in a conference on Wednesday that the U.S. central bank was considering its own digital currency.

According to a Dow Jones report, Dudley indicated that the Fed was exploring the idea of launching a digital currency, although he remained skeptical about the recent furor over Bitcoin, calling it a “speculative activity”.

“I would be, at this point, pretty skeptical of bitcoin,” he warned.

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