Sweden’s Central Bank Urges E-Krona Legislation Review as Dollar Stablecoins Spread
Summary
- Sweden’s central bank has called for legislation related to the introduction of the e-krona, a central bank digital currency (CBDC), according to a report.
- The Riksbank said the European Central Bank’s digital euro and the spread of dollar-based stablecoins are key reasons to consider introducing the e-krona.
- The Riksbank said it expects the e-krona to take at least five years to introduce and stressed that legislative preparations should be accelerated regardless of whether it is ultimately launched.
Forecast Trend Report by Period
Sweden’s central bank has urged legislation tied to the introduction of the e-krona, a central bank digital currency, Cointelegraph reported on October 16.
In a letter to parliament’s finance committee, the Riksbank recommended beginning legislative preparations for a potential e-krona rollout.
The Riksbank cited the European Central Bank’s digital euro and the spread of dollar-based stablecoins as reasons to pursue the e-krona. It warned that if dollar-based stablecoins become widely used for payments, the use of the krona in Sweden could be curtailed.
The central bank said introducing the e-krona would take at least five years, excluding the time needed for legal revisions. It also stressed that legislative preparations should be accelerated regardless of whether the currency is ultimately launched.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.