Switzerland Considers Releasing Its Own First Cryptocurrency “E-Franc”

[Goodcat49]

Swiss stock exchange chairman Romeo Lacher has proposed to introduce an innovative national digital currency to the financial market. He explained that the new trading coin, “e-franc”, will help to stimulate the economy of the country, in addition to being a more beneficial payment system compared to traditional systems.

According to reports, Mr Lacher also admitted that there would be a lot of upsides while developing a state-regulated virtual coin. Besides, the chairman added that the stock exchange would express big support for any projects like that.

Swiss National Bank Does not Approve the Fintech Initiative
The Swiss National Bank reacted to Mr Lacher’s offers negatively, stating that it sees “no need” to invent a national cryptocurrency. The financial institution explained that the current cash-based and cashless payment systems are doing their work well enough.

Even though Romeo Lacher expressed a great enthusiasm towards a government-controlled digital currency, he claimed that the exchange, owned by SIX Group, would not permit any kind of cryptocurrency trading.

He said:

“We have actually no plans to admit trading of cryptocurrencies or ICOs. But we see a lot of advantages for blockchain across our businesses.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/switzerland-considers-releasing-cryptocurrency/

[Gray]

when the power of cryptocurrencies begins to manifest, more countries can only join the bandwagon. who doesn't want a simple easy-to-live life? life will be far easier with the advent of cryptos.