Organizers failed to collect enough signatures to trigger a referendum that would have required the Swiss National Bank to hold Bitcoin in its reserves.
A campaign to require the Swiss National Bank to hold Bitcoin is set to lapse after failing to gather enough signatures to trigger a national referendum, Reuters reported.
The initiative sought to amend Switzerland’s constitution to require the central bank to hold Bitcoin (BTC) alongside gold and foreign currency assets, but organizers said they collected only about half of the 100,000 signatures required under Swiss law.
The Swiss National Bank (SNB) has repeatedly opposed adding cryptocurrencies to its holdings, saying digital assets do not meet its reserve management standards due to concerns about volatility and liquidity, Reuters reported.
