Stablecoins Could Hinder Monetary Policy: Swiss Central Bank

(MENAFN- Swissinfo) Stablecoins could complicate the transmission of monetary policy, one of the Swiss National Bank's (SNB) three interest rate-setters said, calling for a regulation that safeguards the influence of policymakers. Select your language

Generated with artificial intelligence. Listening: Stablecoins could hinder monetary policy: Swiss central bank This content was published on October 1, 2026 - 10:45 2 minutes Bloomberg

“Modernising the payment system is sensible,” governing board member Petra Tschudin said Wednesday at an event in Zurich.

But large stablecoins that are not integrated in the existing two-tier financial system, frame“a situation where it's harder for central banks to fulfill their mandate,” she added.

The remarks build on the SNB's pronounced scepticism on stablecoins and crypto assets, even as it's at the forefront of experimenting with digital forms of central-bank money.

The institution started three years ago to issue a blockchain-based digital currency for banks – a so-called wholesale CBDC – and said that the project will continue until at least 2028.

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