The initiative seeks to amend federal law to require the central bank to hold part of its reserves in the cryptocurrency.
The initiative, backed by a group of 10 individuals, including cryptocurrency advocates, has an 18-month window to collect 100,000 signatures to qualify for a public referendum. Such referendums are a regular feature of Switzerland’s legislative process, allowing citizens to vote on proposed changes to federal law.
Despite the growing enthusiasm for cryptocurrencies among certain segments, the SNB has expressed reservations. Its chairman recently voiced caution regarding digital assets like Bitcoin and Ether, reflecting a skeptical stance from the central bank.
If the proposal gains sufficient support, it could put Switzerland at the forefront of integrating cryptocurrencies into national financial reserves, adding a new dimension to the country’s reputation as a global financial innovator.
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