The post Switzerland Launches Initiative to Integrate Bitcoin into National Reserves appeared on BitcoinEthereumNews.com.

Switzerland pushes for Bitcoin in SNB reserves, aiming for financial innovation and leadership in the digital asset space by 2026. Swiss Bitcoin enthusiasts are working hard to push for the Swiss National Bank (SNB) to hold Bitcoin on its balance sheet. On 31 December 2024, the Swiss federal chancellery launched a proposal to make this a reality. By June 30, 2026, 100,000 signatures from Swiss residents must be gathered to trigger a national referendum. Giw Zanganeh, Vice President of Energy and Mining at Tether, and my other partner is Yves Bennaïm, founder of the Swiss Bitcoin nonprofit think tank 2B4CH. Eight other Bitcoin advocates joined them. The signature collection has officially begun and the proposal has now been published in the Federal Gazette. The proposal will be taken up by the Swiss Federal Assembly once it has collected the 100,000 signatures. It will then need to pass into a public vote for Swiss citizens to decide its result. It makes sure the people of Switzerland are the last person standing on the subject. However, Switzerland has been in the world of cryptocurrency for some time now. From the start of 2016, the canton of Zug, dubbed Crypto Valley, has offered citizens the possibility of paying taxes with Bitcoin. However, this forward-thinking has laid the groundwork for a healthy ecosystem of blockchain and cryptocurrency companies in the nation. Switzerland Aims to Lead Digital Asset Space with Bitcoin in SNB Reserves Many see the proposal as a way for Switzerland to build itself as a global hub of financial innovation via Bitcoin in its SNB reserves. Adopting Bitcoin would place the country into a profound leadership position in the digital asset space, proponents say. But the journey to success may not be easy. Earlier efforts to bring Bitcoin into the reserves have…

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Filed under: News - @ January 3, 2025 6:23 am