Fed Official Outlines Bitcoin Risks for Community Banks

By July 23, 2015Bitcoin Business

federal reserve, community bank The Federal Reserve Bank of San Francisco (FRBSF) has penned an informal advisory note to community banks highlighting the potential challenges of working with bitcoin industry firms and consumers.

Written by FRBSF director Wallace Young and published in Community Banking Connections, the note suggested blockchain-based digital currencies are "likely here to stay". As such, Young argued that community bank professionals should make themselves aware of the potential risks.

According to the FRBSF, […]

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