‘The risks outweigh the benefits’ of a Swiss CBDC, says SNB governing

Andréa Maechler, a member of the governing board for the Swiss National Bank, or SNB, has reportedly altered her position on the central bank issuing a digital franc.

According to a Tuesday report from Reuters journalist John Revill, Maechler said officials at the country’s central bank “believe the risks outweigh the benefits” when it comes to CBDCs. The governing board member said having the general public use a digital franc in day-to-day transactions would likely not help to promote financial inclusion in Switzerland, where almost all the working population already have access to bank accounts.