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No to 'Sovereign Money' and new gambling laws get OK.

National News // June 11, 2018

Voters have said no to ‘Sovereign Money’ and yes to new laws aimed at curbing international gambling.

pixabay No to 'Sovereign Money' and new gambling laws get OK.

73% said websites offering gaming sites outside the country should be blocked. The justice minister, Simonetta Sommaruga, says the new law won’t lead to internet censorship. The main argument against the new law was allowing the state to block some sites could be the start of official control of the internet.

Switzerland has 21 licensed gaming companies and lotteries. Tax on gambling raises around CHF 1bn a year – a portion of which goes to the pension system.

But voters gave a massive thumbs down to the idea of ‘Sovereign Money’. The campaign wanted to allow only the central bank to issue loans. Those supporting the initiative say it would prevent another financial crises. But parliament and many economists say it’s a dangerous idea that’s never been tried anywhere else. In the end, almost 76% said no.

But both votes didn’t really interest people. Turnout was a paltry 33.8%.

Tags: gambling, snb, bern, vote

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