Swiss Central Bank Refuses to Consider Bitcoin as a Reserve Currency
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The Swiss National Bank (SNB) president Thomas Jordan has announced at the annual general meeting that he does not intend to buy and hold Bitcoin as a reserve currency, Reuters has reported.

According to him, there are no technical obstacles to this. In fact, the SNB can buy cryptocurrencies directly and purchase investment products based on them. The technical and operational conditions can be arranged relatively quickly.

However, he has added:

"From the current perspective we do not believe Bitcoin meets the requirements of currency reserves, that's why we have until now decided not to have Bitcoin on our balance sheet."

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Tether and the authorities of the Swiss city of Lugano announced last February the transformation of the city into the European Bitcoin capital.

The local government has proposed to make BTC, Tether and the city's LVGA token de facto legal tender.

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