The Swiss National Bank reveals reasons for its refusal to integrate Bitcoin into its reserves!

Martin Schlegel, the Swiss National Bank governor, confirmed the central bank's commitment to its stance against integrating Bitcoin or any other digital assets into its foreign exchange reserves, citing the risks associated with these currencies.

In his remarks to Bloomberg, Schlegel expressed concerns about the sharp volatility that Bitcoin experiences, alongside the regulatory challenges facing the cryptocurrency market. He explained that these factors make its inclusion in the bank's reserves inappropriate, as the purpose of the reserves is to support monetary policy, which does not align with digital assets.

Schlegel emphasized that this position is not new, having previously expressed his reservations at an event held in November 2024, reaffirming that Bitcoin and Ethereum remain specialized phenomena that cannot be relied upon as means of payment due to their extreme price fluctuations. He also noted the growing concerns about the high energy consumption resulting from cryptocurrency mining, as well as their connection to certain illegal activities, making regulation complicated.

Despite the Swiss National Bank's rejection of adopting digital currencies, Switzerland remains one of the leading global centers for adopting blockchain technology. Recently, BX Digital, a subsidiary of the Stuttgart Stock Exchange, received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate a trading platform based on blockchain technology, allowing for immediate settlement and asset transfers without the need for intermediaries, thereby reducing transaction times and costs.

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