Swiss lawmaker asks for national report on Bitcoin
Swiss Socialist Party parliamentarian Jean Christophe Schwaab submitted a request to the Swiss National Council seeking a report on Bitcoin, particularly on the digital currency’s potential and risks. Schwaab said Bitcoin’s ability to possibly facilitate money laundering is a concern. Switzerland, of course, is world famous for its banking industry. Schwaab acknowledged, too, that Bitcoin could be a good thing for Switzerland, but his concerns seemed to stem primarily from a piece of reporting in which a Swiss journalist was able to buy drugs with Bitcoin from the Silk Road. He said he....
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A member of Switzerland's federal parliament has made a submission to the country's National Council asking it to write a report on bitcoin. Jean Christophe Schwaab of the Swiss Socialist Party said he submitted the request because he is concerned about the potential of bitcoin. "It's difficult to know at this stage exactly what bitcoin is and what it is capable of becoming. That's why I want the government to look at the bitcoin market and and what the dangers are," he said. Schwaab went on to say he thinks there is real danger of bitcoin enabling money laundering and other criminal....
A group of Swiss Bitcoin advocates led by Yves Bennaïm has initiated a referendum to amend the Swiss constitution in a way that would mandate the Swiss National Bank (SNB) to include BTC alongside gold in its currency reserves, as reported by local media. The proposed amendment to the Swiss constitution is succinct yet significant. […]
The Federal Council of the Swiss government is to write a report on the dangers of bitcoin, examining the effects it could have on Switzerland's financial system and society in general. Jean Christophe Schwaab of the Swiss Socialist Party submitted the request for the report in a postulate back in September. At the time, he said he had submitted the request because he was concerned about the potential of bitcoin and other virtual currencies. Luzius Meisser, president of Bitcoin Association Switzerland, said Schwaab's postulate takes a wholly negative perspective, focusing on the risks of....
The Swiss Gold Referendum and the "Save Our Swiss Gold" movement that would have forced the Swiss National Bank (SNB) to hold at least 20% of its balance sheet in gold has been definitively defeated. Earlier today, Switzerland's populace spread across 26 different cantons voted on several referendums and soundly defeated two that have made headlines around the world. Experts have been expecting a defeat on the Swiss Gold Reserves referendum for many weeks now as support dwindled even prior to voting day. In the end, 77% of participating Swiss voters decided against forcing their national....
The Swiss parliament has made a lot of headway since lawmaker Jean Christophe Schwaab first asked to look into cryptocurrencies back in September. Just three months ago, Schwaab was on record as describing Bitcoin as something for “geeks, criminals and special police units.” Fast forward to this week: Schwaab himself was among 45 Swiss parliament members who signed a proposal, or postulate, that would treat Bitcoin as a foreign currency. This could be a big step forward in legitimizing Bitcoin in Switzerland and Europe. Ultimately, it would allow the Swiss banking sector substantial peace....