- The Swiss National Bank (SNB) warns that large stablecoins could disrupt monetary policy transmission by bypassing the traditional two-tier financial system.
- SNB Governing Board member Petra Tschudin advocates for regulation to maintain central bank control, rather than outright bans, acknowledging stablecoins' potential for modernizing payments.
- Switzerland is exploring regulatory licenses for stablecoin issuers and conducting wholesale CBDC experiments through Project Helvetia III, while domestic Swiss franc stablecoin markets remain small.
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Tags: #swissnationalbank #stablecoins #monetarypolicy #regulation #centralbankdigitalcurrency #projecthelvetiaiii #financialstabilityreport #disintermediation #runrisk #paymentinstrumentinstitution
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