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
Frontier innovation may start at home, but new technologies tend to spread across borders through…
Do banks fail because of runs or because they become insolvent? Answering this question is…
The US college wage premium nearly doubled between 1980 and 2010, rising fastest in dense…
Europe’s rising external surplus now rivals China’s, reflecting weak investment and growing surpluses, pointing to…
The 2025 Sevilla Commitment renews the push for domestic revenue mobilisation, with the EU needing…
This essay analyses the causes of, and remedies for, external imbalances, and what countries should…