The Governor of the Swiss National Bank says that cryptocurrencies do not meet foreign exchange reserve requirements.

The President of the Swiss National Bank stated that cryptocurrencies do not meet the requirements for reserve instruments, rejecting calls to include Bitcoin in the bank's foreign exchange reserves.

Swiss cryptocurrency advocates, united in a Bitcoin initiative, argue that in the context of global economic disruptions and loss of confidence in government bonds, diversifying central bank reserves is particularly important.

Protesters are seeking to amend the country's constitution and legislate the Swiss National Bank's commitment to include Bitcoin in its reserves alongside gold.

However, Swiss National Bank President Martin Schlegel disagrees with this view. He stated during a central bank shareholders' meeting in Bern on Friday: "Currently, cryptocurrencies do not meet foreign exchange reserve requirements."

He expressed concerns about liquidity and the high volatility of cryptocurrency prices, questioning the Swiss National Bank's ability to support the value of its foreign exchange reserves against this backdrop.

Earlier this year, European Central Bank President Christine Lagarde rejected the idea of including Bitcoin in foreign exchange reserves.