<h2><b><a href="https://medium.com/@jamesgan/the-future-of-stablecoins-relies-on-the-history-of-currency-98798ebd97ee">Stablecoins Could Impede Monetary Policy</a>: Swiss National Bank President States</b></h2>
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<div dir="auto">President of the Swiss National Bank (SNB), Thomas Jordan said stable coins pegged to foreign currency could impede financial policy in some situations.</div>
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<h3><b>Cryptocurrencies' Restricted Usage as Payment Equipment</b></h3>
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<div dir="auto">On Sept 5, Thomas Jordan spoke at the University of Basel. Stating, he is persuaded that cryptocurrencies have restricted use. Such as payment equipment, stores of value and unit of account, as they are subject to chief variations.</div>
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<div dir="auto">Moreover, Jordan Said:</div>
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<div dir="auto"><i><b>“Crypto tokens are more like speculative investment instruments than ‘good’ money in terms of their characteristics. Users typically describe money as ‘good’ if it has a stable value over time, is broadly accepted, and enables efficient payments. Given these parameters, it seems unlikely that crypto tokens will be widely used as money in Switzerland.”</b></i></div></blockquote>
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<div dir="auto">Further, Jordan showed his concerns regarding stablecoins pegged to foreign currencies establishing themselves in Switzerland.</div>
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<div dir="auto">He elaborated:</div>
<div dir="auto"><i><b>“If stable coins pegged to foreign currencies were to establish themselves in Switzerland, the effectiveness of our monetary policy could be impaired.”</b></i></div>
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<div dir="auto">The central banker said that a swiss franc stable coin would have<i>“no immediate impact on the effectiveness of our monetary policy." </i>He also stated that offering general currency could cause a threat to monetary stability inducing the likelihood of a bank run.</div>
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<h3><b>Swiss National Bank Have a Deep Insight on <a href="https://www.cryptoknowmics.com/crypto/facebooks-libra-coin-a-big-mistake-quick-world-finance-update-crypto-news/">Facebook's Libra</a></b></h3>
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<div dir="auto">Reportedly,  the central bank is also in link with the relevant authorities over Facebook's Geneva-based crypto project Libra.  Fritz Zurbruegg, SNB vice-chairman outlined a statement. Saying that it was yet harder to evaluate the Libra project completely, also referencing the vague character of available documentation.</div>

Stablecoins Could Impede Monetary Policy: Swiss National Bank President States

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