Swiss National Bank refuses Bitcoin as a reserve asset

 Swiss Bank reject BTC:

Despite the increasing interest in Bitcoin adoption by governments and corporations worldwide, the Swiss National Bank (SNB) has made it clear that it has no plans to include Bitcoin in its reserves. SNB Vice Chairman Martin Schlegel recently reaffirmed this stance, stating that cryptocurrencies do not meet the necessary standards for foreign-exchange reserves. The central bank remains cautious about digital assets, prioritizing stability and traditional financial instruments.

One of the main reasons behind SNB’s rejection of Bitcoin is concerns over liquidity and reliability. Schlegel pointed out that the digital nature of cryptocurrencies makes them vulnerable to technological failures, which could pose risks to the stability of Switzerland’s financial system. While Bitcoin has gained popularity as a store of value, the Swiss central bank remains skeptical about its long-term role in the global financial system.

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This cautious approach contrasts with the growing interest in Bitcoin by other governments and financial institutions. In the United States, former President Donald Trump has openly supported the adoption of Bitcoin, sparking discussions about its integration into national reserves. This shift in attitude has encouraged more nations to explore regulatory frameworks that could allow Bitcoin to become a recognized financial asset.

Some countries have already taken steps to include Bitcoin in their national reserves. El Salvador and Bhutan, for example, have added Bitcoin to their balance sheets, signaling their confidence in the digital currency. Many other nations are actively developing regulations to align with the evolving global approach to cryptocurrencies. This trend reflects a broader acceptance of Bitcoin as a potential financial asset rather than just a speculative investment.

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Pakistan is one of the countries making significant progress in this area. According to Bilal Bin Saqib, CEO of the Pakistan Crypto Council, authorities are working on a legal framework to support the digital asset industry. This effort aims to provide clarity for businesses and investors, ensuring that Pakistan remains competitive in the global financial landscape.

Switzerland, despite its rejection of Bitcoin as a reserve asset, remains an important center for blockchain and cryptocurrency innovation. The country is home to Crypto Valley in Zug, where major blockchain projects like Ethereum were founded. While the Swiss government maintains a cautious approach to Bitcoin, the nation's strategic political neutrality and strong financial sector continue to make it a key player in the global digital asset space.