Sweden’s central bank, Riksbank, is now looking into the risks and consequences of moving the country’s economy to the e-krona digital currency.
Sweden has taken another step towards releasing a Central Bank Digital Currency (CBDC) with the launch of a formal review into the potential of transitioning to the e-krona, Bloomberg reported on 11 December.
According to the publication, the finance committee of Riksbank, the country’s central bank, launched the review to explore the practicality of moving the country’s payments infrastructure to a digital currency. Lead by the former Chairwoman of Riksbank’s finance committee, Anna Kinderg Batra, the initiative is expected to complete by the end of November 2022. Sweden’s Financial Markets Minister, Per Bolund, commented on the importance of the initiative:
“It’s crucial that the digitalized payments market functions safely, and that it’s available to everybody. Depending on how a digital currency is designed and which technologies are used, it can have large [sic] consequences for the entire financial system.”
Read more: https://chainbulletin.com/sweden-looking-into-potential-transition-to-cbdc/
