Finance
Swiss central bank faces call to hold bitcoin in reserves
Published by Global Banking & Finance Review®
Posted on December 31, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 31, 2024
1 min readLast updated: January 27, 2026
A new proposal suggests the Swiss National Bank hold bitcoin in its reserves, requiring 100,000 signatures for a referendum. The SNB has been skeptical about cryptocurrencies.
ZURICH (Reuters) - 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.
(Writing by Dave Graham; editing by Jason Neely)
The main topic is a proposal for the Swiss National Bank to hold bitcoin in its reserves, which could lead to a public referendum.
The SNB has expressed skepticism due to concerns about the volatility and regulatory challenges associated with cryptocurrencies.
The proposal needs to collect 100,000 signatures within 18 months to be eligible for a public referendum.
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