Swiss Central Bank Warns Stablecoins Could Complicate Monetary Policy

The Swiss National Bank (SNB) has expressed concerns that stablecoins could hinder monetary policy. Governing board member Petra Tschudin stated at an event in Zurich, 'Modernising the payment system is sensible.' However, she noted that large stablecoins not integrated into the existing financial system create a situation where it's harder for central banks to fulfill their mandate.

The SNB has been skeptical about stablecoins and crypto assets despite experimenting with digital forms of central-bank money. The institution started issuing a blockchain-based digital currency for banks three years ago, which will continue until at least 2028.