The Swiss central bank's Bitcoin reserve proposal is about to be terminated due to insufficient signatures.

Techub News, according to Cointelegraph, a Swiss petition aimed at including bitcoin in the central bank's reserves is set to be terminated after failing to collect enough signatures. The proposal attempted to leverage Switzerland's direct democracy mechanism to push for the inclusion of cryptocurrency assets in central bank reserves. The failure of this petition means that the Swiss National Bank will not add bitcoin to its official reserve asset allocation in the short term.