The US Federal Reserve Bank of St. Louis is the center of the Eighth District of the Federal Reserve System which collectively forms the most powerful central bank on the globe.
This week the Federal Reserve Bank of St. Louis added four series of cryptocurrency prices to their Federal Reserve Economic Data (FRED) database.
”Bitcoin, Bitcoin Cash, Ethereum, and Litecoin price data dating back to 2014 are available, and each series will be updated daily. All data were obtained from Coinbase, a cryptocurrency exchange company.”
It is an important step for the cryptocurrency legitimation since FRED is a major financial and a monetary authority.
Often used as an exchange medium by their users, cryptocurrencies still don’t have the support of national banks.
Two days after the FED recognition of the four cryptocurrencies, Mark Carney the governor of the Central Bank of England known till then for his opposition to cryptocurrencies, states “No longer will access to central bank money be the exclusive preserve of banks”
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