Swedish Central Bank Calls for Assessment of E-Krona to Address Impact of Stablecoins and Digital Euro

The Swedish central bank is urging lawmakers to reconsider the necessity of issuing an e-krona, arguing that the development of foreign stablecoins and the digital euro could exert long-term pressure on the use of the Swedish krona in the payment system. Deputy Governor Per Jansson stated that if cash continues to digitalize and the Swedish krona lacks a convenient digital form, the currency may struggle to compete with cross-border digital payment tools. Although the central bank has not yet decided whether to officially issue an e-krona, it hopes to initiate legislative preparations as soon as possible, with related institutional and technical work expected to take at least five years.

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