Published on May 18th, 2018 | by bitcoin0
Study on State-Backed Digital Currency wanted by the Swiss Government
The Federal Council of the Government of Switzerland has requested a report on the risks and opportunities of introducing its own state-backed digital currency, or so called “e-franc”, Reuters reported May 17.
The Federal Council moved to investigate the subject at the prompt of Swiss lawmaker and vice-president of the Social Democratic Party, Cedric Wermuth.
Now, the lower house of the Swiss parliament has to decide whether to support the Federal Council’s request for research.
Should the proposal be approved, the Swiss Finance Ministry will conduct a study on the subject.
Earlier this month, Switzerland’s largest bank UBS declined to offer trading in Bitcoin and other digital currencies.