Swiss National Bank Chair Flags Crypto Risks, Calls Bitcoin and Ether a ‘Niche Phenomenon’

Swiss National Bank (SNB) Chairman Martin Schlegel has cautioned about cryptocurrencies like bitcoin and ether, describing them as volatile and energy-intensive, and highlighting links to illegal activities that complicate regulation. Speaking at an event hosted by Aargauische Kantonalbank in...

Aliver Aliver
Nov 8, 2024 - 21:04
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Swiss National Bank Chair Flags Crypto Risks, Calls Bitcoin and Ether a ‘Niche Phenomenon’
Swiss National Bank Chair Flags Crypto Risks, Calls Bitcoin and Ether a 'Niche Phenomenon'Swiss National Bank (SNB) Chairman Martin Schlegel has cautioned about cryptocurrencies like bitcoin and ether, describing them as volatile and energy-intensive, and highlighting links to illegal activities that complicate regulation. Speaking at an event hosted by Aargauische Kantonalbank in Brugg, Switzerland, Schlegel noted that, while virtual currencies have seen significant growth, they remain a “niche […]