Switzerland registers Bitcoin proposal for public vote by 2026

Switzerland’s Federal Chancellery has officially registered a proposal to incorporate Bitcoin (CRYPTO:BTC) into the Swiss National Bank’s (SNB) reserves, a step that could lead to a public referendum by 2026.

The proposal, filed on December 31, 2024, was driven by a group of 10 Bitcoin advocates, including Giw Zanganeh, Tether’s vice president of energy and mining, and Yves Bennaïm, the founder of the Swiss Bitcoin think tank 2B4CH.

The initiative aims to amend Switzerland’s Federal Constitution to allow the SNB to hold Bitcoin and gold as part of its monetary reserves.

The advocates argue that this inclusion would promote financial sovereignty and stability for Switzerland.

To bring the proposal to a referendum, the group must gather 100,000 valid signatures from Swiss citizens by June 30, 2026, which is approximately 1.12% of the country's population.

If the required signatures are collected, Swiss citizens will vote on the matter through the country's direct democratic process.

This initiative is a revived effort from 2B4CH, which had initially postponed a similar proposal in 2021 due to Bitcoin’s relatively new role as a potential national asset.

Since then, global interest in Bitcoin’s role in national reserves has grown, strengthening the case for its inclusion.

Switzerland has been supportive of Bitcoin, with El Salvador partnering with the Swiss city of Lugano to promote Bitcoin adoption across Europe.

Additionally, in 2022, El Salvador opened a “Bitcoin office” in Switzerland as part of this initiative.

However, the proposal faces resistance from the SNB. Chairman Martin Schlegel has previously voiced concerns over Bitcoin and other cryptocurrencies, citing their volatility and links to illegal activities.

Despite this, the proposal’s registration marks a significant step toward integrating digital assets into traditional financial frameworks in Switzerland.

At the time of reporting, the Bitcoin price was $96,898.53.