On May 17, Reuters staff in a "3 min read" reports that the Swiss government may be compiling a SWOT, (strength, weakness, opportunity, threat) style analysis report on creating a crypto currency backed by the coercive might of the Swiss government. The article also asserts Sweden may have discussed a similar initiative, and that the lower house of the Swiss parliament's to back some entity titled Federal Council's request for a study.

It will be interesting if this goes anywhere. Not sure how Swiss money works or whether it is central bank type, which I suspect it is, if so, then their existing system of having the possibility of printing money out of no where--especially if their bank has done that before might not make crypto investors feel confident, but perhaps the coercive and state backing may counterbalance that. It seems one of the values in many cryptos is the definied limited supply that inhibits inflation.

The article also discusses Sweden's Riksbank which I will definitely be looking up and possibly writing a future article on. The article also cites Venezuelas Petro oil backed currency. Apparently the Bank of International Settlement in March may have made statements about the risks of central banks issuing their own cryptos.

Should the proposal be approved then the Coercion backed Swiss Finance Ministry will create a report, with no details on timeline yet. Cedric Wermuth vice president of the Swiss Social Democratic Party supports the study, which the "Swiss government, or Federal Council backed the proposal to look into it."Swiss National Bank governor Andrea Maechler may have asserted in April that non coercion backed central bank digital currencies might be better and less risky than those by central bankers.