Bitcoin, Crypto currency, Blockchain

Switzerland: On the way to the “E-franc”?

36dc43f6c21c88e2684909b7202a2799 - Switzerland: On the way to the "E-franc"?

As the Reuters news Agency on 17. May said, to be designated by the Swiss Federal Council a study to give on the risks and opportunities of an own crypto currency information. This would be a first step in the direction of “E-franc”.

After Venezuela had introduced in February of this year, the Petro, played both Turkey and Iran with the idea of a own crypto-currency. Also, the Swedish Riksbank assumes an E-crown, could contribute to the problems, which which is becoming rarer in the use of cash, tackle. Now Switzerland seems to want in this series wrap – up with a so-called “E-franc”.

On the way to the E-franc

The Bank for International settlements had to employ the Central banks in March, advised that accurate research in relation to possible risks, before being considered, to call your own crypto-currency. This Council, the Swiss Federal Council seems to be very serious. He wants to first consider what risks would be associated with the introduction of an E-franc.

The impetus for this study was given by the Vice-President of the social democratic party, Cedric Wermuth. This proposal of the Federal Council supported, but also to consider that there are hurdles:

“The Federal Council is the major legal and monetary challenges associated with the use of an E-franc. For this it is required that the proposal is accepted, to examine the risks and opportunities of E-francs and to clarify the legal, economic and financial aspects of the E-franc.“

In fact, it must initially decide the lower house of the Swiss Parliament on whether it can grant the request of the Federal Council. Should this be the case, is to create the Swiss Ministry of Finance a study on the state of crypto currency. A time frame for this has not yet been published.

Switzerland showed, especially with your “crypto Valley” Zug always very crypto-friendly. Nevertheless, the Swiss national Bank (SNB) is the state of crypto currency rather skeptical. So Andrea Maechler of the SNB’s declared only at the beginning of April, that evaluates digital currencies in the private sector as a better and less risky than any Version that could be offered by a Central Bank. What they have to say, the two Swiss scientists, Aleksander Berentsen & Fabian Schär on the subject, a stand-up interview in two parts.

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