A new initiative in Switzerland is calling for the integration of Bitcoin into the country’s financial system by making it a mandatory component of the Swiss National Bank’s (SNB) reserves.
According to Reuters, the proposal was officially submitted by the Swiss Federal Chancellery and seeks to amend legislation to require the central bank to allocate reserves in both gold and Bitcoin, the world’s leading cryptocurrency.
Proponents of the initiative have 18 months to gather the 100,000 signatures necessary to trigger a national referendum. Switzerland regularly holds referendums on legislative initiatives aimed at amending federal laws.
The SNB has previously expressed skepticism toward Bitcoin, but this proposal marks a significant push to include cryptocurrency within the framework of the country’s monetary policy.
