Swiss National Bank President Martin Schlegel shared his views against suggestions for the use of crypto assets as reserve assets. Schlegel said that crypto assets do not provide sufficient stability as a value storage tool and contain various risks. He also expressed his stance against the proposal of a non -governmental organization and other communities called 2B4ch.
Central Bank Opinion
Schlegel stated that crypto assets have high volatility and emphasized that they are not suitable for the bank’s investment value. “Bitcoin $84,909.47 And other crypto assets are exposed to short -term fluctuations. Dedi
Schlegel also stated that reserves should have high liquidity. This seems important in terms of being used quickly when needed in monetary policy practices.
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Technological and Financial Assessments
Schlegel also stated that the software -based structure of crypto beings is open to errors and technical problems. The following statement underlines this view:
Martin Schlegel: “Software can be error and other weak spots.”
In addition, although the current crypto asset market is close to a value of approximately $ 3 trillion, Schlegel said that the market size is limited to the general financial system. Switzerland’s official currency, Switzerland Frang would not be affected by these assets.
Offer and Process Details
Within the scope of the proposal brought to the agenda by 2B4CH, the bank’s balance sheet is requested to have a crypto assets. In order for this proposal to be implemented, 100,000 signatures must be reached. Authorities, the signature collection process will take 16 months, he said.
In addition, considering the Swiss population, approximately 1.11 %of the people will be supported. While other countries evaluated similar practices, some countries such as Poland rejected the idea of using crypto assets as reserve assets. Of course, although the signature is collected and the voting is opened, it will be acted according to the result of the vote and the road is long.
Martin Schlegel’s statements show that crypto assets are controversial in the current financial system. Discussions and implementation processes in different countries can provide information about the future role of these assets.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
