Swiss National Bank Governor Reaffirms Stance Against Crypto in Reserves Amid Blockchain Growth in Switzerland

Published 2025-03-21
Main→ Blockchain→ Cryptocurrencies→ Swiss National Bank Governor Reaffirms Stance Against Crypto in Reserves Amid Blockchain Growth in Switzerland
Swiss National Bank Governor Martin Schlegel has reiterated the bank's stance on not including Bitcoin or other cryptocurrencies in its foreign exchange reserves, as reported by Bloomberg. Schlegel raised concerns about the high volatility and regulatory hurdles associated with cryptocurrencies, which he believes do not support the bank's objectives in monetary policy.

He remains consistent in his views, having previously voiced skepticism at a November 2024 event about the suitability of cryptocurrencies like Bitcoin and Ethereum for payment purposes, due to their significant price fluctuations.

Additionally, Schlegel mentioned the environmental impact and the potential for cryptocurrencies to be used in illicit activities as barriers to their adoption due to their regulation challenges.

Despite the Swiss National Bank's cautious stance on digital assets, Switzerland is still advancing as a center for blockchain technology. The Swiss arm of the Stuttgart Stock Exchange, BX Digital, was recently authorized by the Swiss Financial Market Supervisory Authority to run a blockchain-based trading system that utilizes Ethereum's technology for immediate asset settlement and transfer, which could streamline transactions and cut costs.

Moreover, Nexo has recently broadened the reach of its Nexo Card to Switzerland and Andorra as of February 11, within its 2025 Growth Plan. The card, which merges debit and credit functionalities, has seen a 62% adoption rate among eligible consumers in the European Economic Area.


The Innovators:
Blockchain and cryptocurrency development from ilink
Latest Articles
Ethereum Hits Record Low Supply on Exchanges Amid Rising DeFi and Staking Popularity
As of March 21, Ethereum's availability on exchanges has plummeted to its lowest since November 2015, at just 8.97 million ETH.
Trump Champions Cryptocurrency's Role in U.S. Economic Leadership at Digital Asset Summit
NEW YORK — At a recent cryptocurrency conference, former President Donald Trump made a surprise virtual appearance, emphasizing his bullish stance on cryptocurrencies as a boon for the U.S. economy.
Cryptocurrency Regulation in Hong Kong
This article examines the regulatory framework for cryptocurrencies in Hong Kong, including which cryptos are recognized, how stablecoins are regulated, and the taxation policies affecting crypto transactions.
Cryptocurrency Regulation in Switzerland
This article explores why Switzerland is considered crypto-friendly, its taxation policies on cryptocurrencies, and the legal status of Bitcoin within the country.
Top 10 Crypto-Friendly Countries in 2025
As cryptocurrencies continue to weave into the global financial fabric, several countries have emerged as leaders in fostering a crypto-friendly environment.
Top 10 Blockchain Development Companies 2025
Blockchain technology has transformed the digital landscape by enabling decentralized, transparent, and secure transactions. It relies on a distributed ledger system that ensures data integrity and reduces the likelihood of fraud.
Subscribe to us
We do not send spam. Only really important news and articles.