SNB's Maechler says cryptocurrencies won't rival conventional currency

Cryptocurrencies are not true competitors to conventional currencies despite soaring interest in products like bitcoin, Swiss National Bank Governing Board member Andrea Maechler said on Thursday.Private-sector digital currencies were better and less risky than any version that might be offered by a central bank, Maechler added, indicating the SNB has no appetite for launching its own e-franc."Digital central bank money for the general public is not necessary to ensure an efficient system for ca