The Swiss government plans to study the risks and advantages of issuing its own cryptocurrency, state-supported, — e-franc.
A request for a study, the Federal Council has submitted to the lower house of Parliament.
“The Federal Council is aware of major problems, both legal and monetary, which will be accompanied by the use of e-franc. He asks to take the proposal to consider the risks and opportunities of electronic franc and to clarify the legal, economic and financial aspects of e-franc,” commented submitted to the Parliament the government’s request, the Vice-President of the Swiss social democratic party, Cedric Wermuth (Wermut Cedric).
Switzerland is known as one of the most prominent centers of the blockchain-industry in the world. Crypto Valley in the Canton of Zug is home to some of the most well-known companies and organizations in the industry. In January the Minister of economy Johann Schneider-Ammann (Johann Schneider-Ammann) said that in 5-10 years the country must become a “kryptonate”.
However, the Swiss national Bank (BNS) is quite wary of the cryptocurrency. The head of the BNS Thomas Jordan (Thomas Jordan) said earlier that bitcoin and similar products more an investment than a currency. A member of the governing Board of the Swiss National Bank (BNS) Andrea Mehler(Andrea Maechler) criticized the idea of issuing digital currency Central Bank (CBDC).
“CBDC unlikely to bring any benefits, but will mark the beginning of the countless risks regarding financial stability,” she said.