According to Reuters, the Federal Council of the Swiss Government requested a report on the risks and opportunities of a state-funded e-franc.
The Federal Council stated that the Swiss Parliament and the Social Democratic Party
Now, the lower parliament of the Swiss parliament must decide whether the Bundesrat should support the research request. If the proposal is approved, the Swiss Ministry of Finance will conduct a study on the topic.
As regards the matter, the Council had the following statement:
"The Bundesrat is aware of the legal and monetary challenges that will arise with the use of e-franc. The Council seeks to examine the risks and opportunities of e-franc and to accept the proposal in order to clarify the legal, economic and financial aspects of e-franc. "
The idea of developing a national crypto currency was introduced by Romeo Lacher, president of the Swiss Securities SIX, in February.
Lacher on cryptographic currency development said," An e-franc under the control of the central bank will create too many synergies .
Other traditional financial institutions in the world are cautious about entering the crypto money market.
Member of the Swiss National Bank Board of Directors Andréa Maechler, a member of the Board of Directors of the Swiss National Bank last month,
Switzerland's largest bank, UBS, refused to deal with Bitcoin and other digital currencies earlier this month, as private-sector digital currencies are better and less risky than nationally-issued versions, as currency may increase the risk of banking. The president of the bank, Axel Weber, demanded tighter controls on the crypto currencies.