As Reuters reports, Switzerland is considering creating a state of cryptocurrency. The government appealed to the lawmakers to conduct a study on the pros and cons of the Swiss “electronic Frank”.
The Swiss Federal Council explained the request to conduct a formal study of cryptocurrencies supported by the state:
“We know one of the major problems, both legal and monetary, to be accompanied by the use of electronic franc. We ask you to accept this offer to study risks and opportunities of electronic franc and the clarification of legal, economic and financial aspects of the currency”.
While the future of Swiss cryptocurrency remains unclear. Although influential politicians such as Cedric Wermuth (Wermuth Cédric), Vice-President of the Social democratic party and encourage the study, but the plan faces legislative hurdles.
If the request to move forward or not, will decide the lower house of Parliament. If she approves it, then the Swiss Ministry of Finance will conduct an investigation. However, the hard deadline, after which it must be given the result will not be installed.
It is worth noting that just over a month ago the Central Bank made a statement about the internal instability of cryptocurrency.
“The digital Central Bank money intended for the public, do not need to provide an effective system of cashless retail payments. This is unlikely to bring any benefits, but will lead to incalculable risks for financial stability,” warned the representative of the National Bank of Switzerland Andrea Mehler (Andréa Maechler).
It is noteworthy that most countries that are considering the idea of creating their own digital currency, saw bitcoin as a means to bypass the economic sanctions or a way to weaken the enthusiasm of the citizens about the currency, not controlled by the government. However, Switzerland is not subject to sanctions, and its government is not the enemy, kripa-revolution.
The only example of a country that has already implemented this idea, can not be called successful. Venezuela launched a token petro in contrast to the US policy against its current administration. The Maduro government used the platform token ERC-20 for the launch of government-backed cryptocurrencies, which, according to President Maduro, in the end, will provide the barrels of oil.
In addition, the government has announced special initiatives and incentives to encourage the Venezuelans to use Рetro. However, this currency has earned a mixed reputation. Analytical center of the Brookings Institute believes that Petro is detrimental to the “real” cryptocurrencies. Even the National Assembly of Venezuela announced asset unconstitutional. However, in spite of what the official output of Petro in the rotation will take place after presidential elections scheduled for may 20.
