Swiss Bitcoin reserve initiative terminated due to insufficient signatures

Techub News, according to Reuters, Swiss cryptocurrency advocates will abandon their initiative to require the Swiss National Bank to hold bitcoin reserves, after collecting only about half of the roughly 100,000 required signatures. The movement aimed to force the Swiss National Bank to include bitcoin as a reserve asset through a national referendum, but failed to meet the 100,000 signature threshold set by the Swiss Federal Constitution. This outcome reflects the cautious stance of traditional Swiss financial regulators on adopting cryptocurrencies as sovereign reserve assets.