Sweden’s Riksbank Recommends Digital Krona Preparations
4 Articles
4 Articles
The Riksbank recommended that the Swedish Parliament and Government commission an investigation into the legal changes needed for a possible digital crown. The proposal comes as plans for the digital euro advance and concerns for foreign stablecoins grow. The bank estimates that introducing an e-krona would take at least five years, not counting the legislative time.
Sweden revisits digital krona as ECB advances digital euro plans
Sweden’s Riksbank has recommended that lawmakers prepare for a possible digital krona, citing concerns over foreign-currency stablecoins and the future of domestic payments. Sweden’s central bank is revisiting the possibility of introducing a digital krona, citing the European Central Bank’s (ECB) progress toward a digital euro and the growing use of stablecoins as reasons to reconsider a central bank digital currency (CBDC).In an Oct. 7 letter …
Sweden could have a digital krona in five years at the earliest, but only if the Riksdag acts now. The Riksbank is urging preparations. The driving forces are the deteriorating security situation, the growing influence of stablecoins and the EU's upcoming digital euro. On October 7, the Riksbank sent a letter to the Riksdag's Finance Committee with a clear message: preparations for an e-krona need to begin. Any possible introduction will take at…
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