Swiss National Bank – DIGIT INFO

Proposal mandating the Swiss National Bank to hold Bitcoin now underway

DIGIT — Wed, 01 Jan 2025 00:56:53 +0000

The Swiss Bitcoiners must rack up 100,000 signatures from Switzerland’s 8.92 million residents by June 30, 2026, to trigger a public referendum.

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Swiss National Bank Chair Flags Crypto Risks, Calls Bitcoin and Ether a ‘Niche Phenomenon’

DIGIT — Fri, 08 Nov 2024 13:31:43 +0000

Swiss National Bank (SNB) Chairman Martin Schlegel has cautioned about cryptocurrencies like bitcoin and ether, describing them as volatile and energy-intensive, and highlighting links to illegal activities that complicate regulation. Speaking at an event hosted by Aargauische Kantonalbank in Brugg, Switzerland, Schlegel noted that, while virtual currencies have seen significant growth, they remain a “niche […]

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Swiss National Bank Chief Raises Concerns About Adding Bitcoin to Currency Reserves

DIGIT — Sat, 27 Apr 2024 00:37:21 +0000

The chairman of the Swiss National Bank has expressed reservations about incorporating bitcoin into the central bank’s currency reserves. He stated that no decision has been made yet to invest in bitcoin, underscoring the necessity for currency reserves to be liquid, sustainable, and easily tradable, given their use in international payments. Swiss National Bank on […]

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Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report

DIGIT — Mon, 26 Jun 2023 21:54:41 +0000

Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; bank still feels “prudent” about a retail CBDC, though.

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Several Major Central Banks Take Coordinated Action to Boost Liquidity Amidst Banking Crisis

DIGIT — Mon, 20 Mar 2023 14:00:37 +0000

On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar […]

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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

DIGIT — Sun, 19 Mar 2023 00:35:04 +0000

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the […]

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Banking crisis: What does it mean for crypto?

DIGIT — Fri, 17 Mar 2023 17:00:00 +0000

In our latest Cointelegraph Report, we broke down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explain what this all could mean for crypto.

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On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank

DIGIT — Thu, 16 Mar 2023 16:00:20 +0000

Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit […]

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Swiss National Bank says it would support credit Suisse if necessary

DIGIT — Wed, 15 Mar 2023 19:57:10 +0000

Swiss regulators reaffirm the soundness of the Swiss financial system, following recent concerns about Credit Suisse.

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Swiss National Bank Trials CBDC in Transactions With Five Banks

DIGIT — Fri, 14 Jan 2022 14:49:39 +0000

The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks […]

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