Swiss National Bank (SNB, German: Schweizerische Nationalbank; French: Banque nationale suisse; Italian: Banca nazionale svizzera) is the central bank of Switzerland. Established in 1907 by the Federal Constitution, it is an autonomous institution that carries out monetary policy and provides banking services to the Swiss Confederation and its citizens. The SNB also provides financial stability through its foreign exchange operations.
The primary objective of the SNB is to ensure price stability while also taking into account economic developments and employment considerations. To achieve this goal, it sets interest rates on certain deposits held at commercial banks and conducts open market operations with government bonds or other financial instruments. The SNB additionally has a mandate to promote safe and sound banking practices throughout Switzerland’s banking sector as well as issuing currency notes for circulation within Switzerland’s borders.
In terms of cryptocurrency regulation, there are currently no laws that specifically regulate digital currencies but existing legislation applies to their use such as anti-money laundering measures or securities regulations governing investments in crypto assets or funds investing in cryptoassets . At present, any activity involving cryptocurrencies (such as trading) needs to be done so with caution given that prices can be volatile and unregulated activities may be subject to fraud or theft risks due to lack of oversight from regulatory bodies like FINMA (the Swiss Financial Market Supervisory Authority). Despite this lack of official guidance however , many blockchain projects have been successful in launching their ICOs in Switzerland following self-regulation guidelines set forth by Crypto Valley Association which prioritizes investor protection and transparency when operating within the country’s jurisdiction .
