The Swiss Federal Chancellery has officially registered the “Bitcoin initiative”. This means that the committee behind the proposal has exactly 18 months to collect 100,000 signatures before putting the proposal to a referendum.
The “Bitcoin initiative” aims to incorporate Bitcoin into the central bank. Financial reservesWhich some have claimed will protect the country’s economy from external factors.
The “Bitcoin Initiative” needs 100,000 signatures to move to the next stage.
The Swiss “Bitcoin initiative” was launched by 10 people, including Yves Bennaïm, founder of the non-profit think tank 2B4CH, who led the movement. The move aims to add bitcoin to the country’s financial reserves by advocating for amendments to Article 99 (clause 3) of the Swiss constitution, which currently mandates that a portion of the country’s reserves be stored in gold.
Proponents have argued that Bitcoin should be treated like gold, saying that the asset can enhance a country’s sovereignty and protect a company’s economy.
Now that the Swiss Federal Chancellery has officially registered the initiative, the committee in charge must obtain 100,000 signatures in 18 months. If the signature collection phase is successful, the proposal will be sent to the Swiss Federal and then put to a public referendum to decide whether any amendments to the Swiss constitution will be made.
The US, Germany and Hong Kong are considering Bitcoin reserves.
The Swiss “Bitcoin Initiative” registration comes at a time when several other countries are considering launching their own reserves. For starters, Donald Trump proposed a Bitcoin Reserve Plan at the Bitcoin Nashville Conference 2024.
Additionally, Wu Jizhuang, chairman of Hong Kong’s Web3 Virtual Asset Development Subcommittee, also advocated for the city to include bitcoin in its exchange fund, claiming it could help boost financial security.
Former German finance minister Christian Lindner also advised the European Central Bank (ECB) and the German Bundesbank to integrate bitcoin into their reserves. That said:
The new Trump administration is pursuing a very progressive policy on crypto-assets such as Bitcoin. In Washington, the Federal Reserve is also being considered to include crypto-assets in addition to currencies and gold in its reserves.
~Christian Lindner
However, Switzerland’s approach to a possible amendment to its constitution could lead nations to follow suit, especially since Trump’s victory has left the world optimistic about the trading and regulation of crypto-assets. is
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