A proposal to oblige the Swiss National Bank (SNB) to hold bitcoin was set in motion in an initiative published by the Swiss federal chancellery on Tuesday.
The initiative proposes changing the law to make the Swiss central back hold part of its reserves in gold and bitcoin.
Put forward by a group of 10 people including a number of Swiss cryptocurrency advocates, the initiative has 18 months to collect the 100,000 signatures necessary for it to be put to a public referendum.
The SNB has expressed skepticism about bitcoin previously. The central bank’s chairman said last month he was wary about cryptocurrencies such as bitcoin and ether.
Switzerland holds regular referendums on legislative initiatives to change federal law.
Source : Reuters
The non-fungible token market exploded in 2021, but by late 2022 prices had collapsed. This…
The full-scale Russian invasion of Ukraine in 2022 has generated one of the largest labour…
The swift rise of artificial intelligence is raising fundamental concerns about the future of work.…
The 2022 inflationary spike in Europe has brought renewed interest in fiscal drag. Using harmonised…
Credit default swap spreads have become critical benchmarks for credit risk assessment. A recent report…
Nonbank financial institutions play a central role in global credit markets, raising concerns about regulatory…