Switzerland’s fierce defense of tradition faced a seismic crypto challenge as calls to add bitcoin to national reserves intensify amid global economic turmoil and geopolitical shifts. Swiss National Bank Chairman Warns Bitcoin’s ‘Very High’ Volatility Risks Currency Stability Swiss National Bank (SNB) Chairman Martin Schlegel strongly opposed integrating bitcoin into the institution’s currency reserves during […] Original
The Swiss National Bank has rejected holding bitcoin reserves, citing concerns over cryptocurrency market liquidity and volatility. “For cryptocurrencies, market liquidity, even if it may seem ok at times, is especially during crises naturally called into question,” said SNB President Martin Schlegel at the bank’s General Assembly meeting Friday. “Cryptocurrencies also are known for their high volatility, which is a risk for long term value preservation. In short, one can say that cryptocurrencies for the moment do not fulfill the high requirements for our currency reserves.” Schlegel’s comments were prompted…
Key Notes The Swiss National Bank refuses to add Bitcoin to its reserves due to market instability. Martin Schlegel says cryptocurrencies lack the liquidity needed for national reserves. Crypto advocates launch a referendum campaign to push for Bitcoin and gold in reserves. The Chairman of the Swiss National Bank (SNB), Martin Schlegel, stated that the central bank has no intention of adding Bitcoin to its reserves due to the stability risks associated with the cryptocurrency. This comes after the local crypto industry intensified its calls for Bitcoin to be used…
An official of the Swiss National Bank dismissed calls for the institution to add Bitcoin to its reserves as a hedge against the ongoing macroeconomic turmoil. According to an April 25 Reuters report, Swiss National Bank Chairman Martin Schlegel said that “cryptocurrency cannot currently fulfil the requirements for our currency reserves” during a shareholder meeting in Bern earlier today. The comments come amid mounting pressure from the local crypto industry to add Bitcoin (BTC) to the central bank’s reserves. Campaigner Luzius Meisser, a board member of cryptocurrency broker Bitcoin Suisse,…
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. After the news of Cantor Fitzgerald’s partnership with SoftBank and Tether, the shares of Cantor Equity Partners (CEP) saw a steep 134% increase. Cantor, the legacy investment firm, is now foraying into Bitcoin by establishing a…
The Central Bank of Russia announced that large payments using the digital ruble framework will debut in 2026, providing an official update after the postponement of its launch in March. Central Bank of Russia: Digital Ruble to Be Launched in 2026 The irruption of central bank digital currencies (CBDC) in the lives of Russian citizens […] Source CryptoX Portal
A bold crypto revolution is underway as Russia launches a regulated crypto exchange for elite investors, dragging digital assets into legality, led by the Finance Ministry and the central bank. Russian Central Bank and Finance Ministry Aim to Drag Crypto out of the Shadows Russian Finance Minister Anton Siluanov announced at a recent Ministry of […] Source
The Russian Central Bank and the Finance Ministry have teamed up to launch a local cryptocurrency exchange aimed exclusively at the country’s “super-qualified investors.” As reported by local news outlet RBC, the exchange will operate under an experimental legal framework. Russian Finance Minister, Anton Siluanov “Together with the central bank, we will launch a crypto exchange for super-qualified investors,” Finance Minister Anton Siluanov said (translated from Russian) during a ministry meeting, according to local news agency Interfax. “Crypto assets will be legalised, and crypto operations will be brought out of…
Russia’s finance ministry and central bank are reportedly planning to launch a crypto exchange for qualified investors under an experimental legal regime. The platform will be aimed at “super-qualified investors,” Finance Minister Anton Siluanov said during a ministry meeting, according to April 23 reports from Russian media group RBC and Russian news agency Interfax. “Together with the central bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows,” he said in a statement translated from…
More than 15 crypto firms are storming the gates for banking licenses as U.S. regulators ease restrictions, opening direct access to federal payment systems and legitimacy. Banking Regulators Ease Rules, Trigger Rush From 15+ Crypto Firms More than a dozen crypto firms are reportedly applying for banking licenses with the Office of the Comptroller of […] Source CryptoX Portal