Sveriges Riksbank is also partnering with Norway in Project Icebreaker to test the viability of CBDCs in international retail and remittance payments.
The minister believes that as power becomes scarcer in Sweden, the country may have to make difficult choices, and BTC miners could be among the casualties.
Throughout the Cryptoassets and their impact on financial stability report, Riksbank expresses its fears regarding digital currencies and how they can negatively impact the traditional finance system.
The Swedish financial regulator seeks to determine how the digital currency exchanges comply with the requirements on anti-money laundering provisions.
Handelsbanken, considered to be one of the oldest and largest banks in Sweden, has emerged as the first participant in the central bank digital currency trial spearheaded by Riksbank.
The governor of Sweden’s central bank has issued a five-year time frame within which he expects the country to have a central bank digital currency.
The main obstacle encountered during the trial was scalability, which it identified as a potential bottleneck to adoption, according to Riksbank.
A trial of Sweden’s e-krona will be extended for another year to 2021, in a bid to better understand the benefits and implications of a wider roll-out.
In his latest blog post, Dr. Craig Wright explores the effect a laissez-faire system has had in regard to the coronavirus pandemic as well as the effect that intervention has had.
Swedish bankers are weighing up the risks of a digital currency to their deposit base, as plans for the rollout of an e-krona continue at pace.
The review will reportedly take two years, with the results expected to dictate the way forward for the European nation.