Connect with us

Hi, what are you looking for?

Bitcoin
Bitcoin

Cryptocurrency

A proposal from Switzerland encourages the national bank to adopt Bitcoin reserves

A new effort in Switzerland seeks to integrate Bitcoin into the country’s financial structure by proposing that the Swiss National Bank keep Bitcoin as part of its monetary reserves. The public must support the idea to trigger a national referendum.

Switzerland is considering amending its constitution to require the SNB to include Bitcoin in its monetary reserves. A group of Bitcoin supporters officially filed the proposal on December 31, marking a significant step toward integrating bitcoin into the country’s financial policies.

To move this initiative to a public referendum, the group needs to collect 100,000 valid signatures by June 30, 2026. This represents around 1.12% of Switzerland’s population of 8.92 million.

The proposed amendment asks that Bitcoin, along with gold, be included in the Swiss National Bank’s monetary reserves. Advocates believe that this step will ensure financial stability and strengthen Switzerland’s position as a forward-thinking, sovereign financial hub.

Bitcoin acceptance in Lugano is already growing, with over 260 establishments taking the cryptocurrency as payment. However, the Swiss National Bank has highlighted worries about Bitcoin’s energy consumption and feasibility as a payment system.

If successful, this idea might establish Switzerland as a global leader in incorporating cryptocurrencies into national monetary systems. For the time being, the campaign relies on public assistance to make this audacious goal a reality.

author avatar
Sagar Saini
A dedicated freelance blogger with a strong passion for finance and business, With a keen interest in the world of cryptocurrency.
Advertisement

You May Also Like

Cryptocurrency

Amid the financial pressure on many companies to examine Bitcoin, it is estimated that a quarter of the S&P companies will have Bitcoin in...

Uncategorized

Industry experts note that stablecoin regulations and banking access should take priority over cryptocurrency tax reforms in the U.S. Clear laws can encourage mainstream...

Cryptocurrency

Binance has added a new feature that lets users trade directly from CEX to DEX without having to bridge assets or move funds by...

Cryptocurrency

Decentralized finance has transformed our trading, borrowing, and lending. These services are now available to users directly, without middlemen. The popularity of DeFi is...

polkadot
Polkadot (DOT) $ 4.04 0.33%
bitcoin
Bitcoin (BTC) $ 83,169.28 0.24%
ethereum
Ethereum (ETH) $ 1,801.24 1.03%
cardano
Cardano (ADA) $ 0.650878 0.08%
xrp
XRP (XRP) $ 2.07 1.13%
stellar
Stellar (XLM) $ 0.261315 0.67%
litecoin
Litecoin (LTC) $ 83.60 0.76%