Swiss Federal Council: Will continue to monitor the development of blockchain, DLT and other technologies

On October 16th, at today's meeting, the Swiss Federal Council described the opportunities and challenges associated with stability. Switzerland is generally open to innovative approaches to financial markets, but will continue to actively monitor discussions on new digital technologies such as blockchain/DLT. Also mentioned is the cryptocurrency project Libra, which will be supervised by the Geneva-based Libra Association. The Swiss Federal Council stated that Libra's volatility should be limited as a stable asset supported by a basket of currencies.