Summary:
Swiss National Bank may be required to hold bitcoin in its reserves.
The initiative aims to change the law to include gold and bitcoin.
A group of 10 cryptocurrency advocates is leading the charge.
They have 18 months to collect 100,000 signatures for a referendum.
The SNB has expressed skepticism about cryptocurrencies.
Swiss Central Bank's Bold Proposal
A new initiative has emerged from the Swiss federal chancellery, suggesting that the Swiss National Bank (SNB) should hold bitcoin as part of its reserves. This proposal aims to amend existing laws to allow the central bank to include gold and bitcoin in its reserve portfolio.
Who's Behind the Initiative?
The initiative has been spearheaded by a coalition of 10 individuals, many of whom are advocates for cryptocurrency in Switzerland. They have 18 months to gather 100,000 signatures to bring this proposal to a public referendum.
SNB's Stance on Bitcoin
Despite this push, the SNB has previously shown skepticism towards cryptocurrencies. The bank's chairman expressed caution regarding bitcoin and ether, indicating that the central bank is not fully on board with the idea of including these assets in its reserves.
Swiss Referendums on Legislative Changes
Switzerland is known for its practice of holding regular referendums on legislative initiatives, making it crucial for proponents of this initiative to rally public support to see it through to a vote.
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