Switzerland May Include Bitcoin in Constitution: New Referendum Plan
Date: 2025-01-02 Author: Gabriel Deangelo Categories: IN WORLD
Swiss politician Samuel Kuhlmann has put forward an initiative to include Bitcoin in the country's constitution. This was reported by crypto activist and CEO of the Satoshi Act Fund Dennis Porter.
Kuhlmann proposes holding a referendum, which will require collecting 100,000 signatures within 18 months. According to Porter, even the process of collecting signatures will be a significant step in popularizing Bitcoin: "Every MP at the cantonal level will be forced to study this issue."
The idea of adding Bitcoin to the constitution is already under consideration by the Swiss federal government. Kuhlmann himself admits that the project is ambitious: "There will be a lot of work, and the chances of success are small, but now we must seize the moment."
Kuhlmann’s initiative coincided with another proposal to oblige the Swiss National Bank to include Bitcoin in its foreign exchange reserves. However, the bank’s head Thomas Jordan expressed skepticism in a speech in April 2024. According to him, liquidity, stability, and the ability to quickly buy or sell are important for reserve assets.
However, against the backdrop of the recent rise in the price of Bitcoin, which was a consequence of Donald Trump’s pro-cryptocurrency victory in the US elections, cryptocurrency supporters in Switzerland submitted an official proposal. It was registered on December 5, 2024, the result of many years of preparation.
The Swiss city of Lugano has become a flagship for the introduction of cryptocurrencies into everyday life. Today, about 260 local merchants accept BTC, and tax payments can also be made in Bitcoin and Tether (USDT).
Kuhlmann’s initiative, despite the complexity of implementation, reflects the growing influence of Bitcoin on the country's economy and politics.
