During an event this week, the Chairman of the Swiss National Bank offered a cautious assessment of digital currencies. According to a report from Reuters, Chairman Thomas Jordan suggested that Bitcoin and other cryptocurrencies should be viewed “more as an investment than a currency.” He also noted that central banks are currently examining digital currencies:
“It is important to say it is not question of technology, but a question of who has access to central bank money and in what form. There are up to now many unsolved questions.”
Thomas said that it was important for the world’s central banks to examine issues related to digital currencies, since they have the potential to dramatically affect the global financial system. Those remarks come at a time when central bankers around the world are beginning to focus their attention on cryptocurrency-related issues.
Switzerland has been one of the most forward-thinking countries in Europe when it comes to digital currencies. For example, the town of Zug is so friendly to cryptocurrency that it has been dubbed “Crypto Valley” and some local jurisdictions within the country even allow citizens to use Bitcoin to pay tax obligations.