Ingves, the governor of Sweden’s highest central bank, wrote in the latest economic report: “There should be a digital currency (electronic krona) issued by the Swedish central bank as legal tender.” This is his most powerful support for the Swedish Central Bank’s digital currency (CBDC). )statement of. He urged the Swedish government to “review the concept of legal tender,” and the legality of the e-krona is necessary for the Riksbank to prepare for the digital future.
He asserted that the Swedish people are giving up cash at the world’s leading speed and instead using digital payments.
This prompted the Riksbank to work hard to deal with CBDC. Although dozens of monetary authorities are now studying sovereign digital currencies, Sweden is one of the few countries that actually experiment with digital currencies.
It is also worth noting that the Swedish e-krona pilot project uses distributed ledger technology.
Ingves called on the Swedish Parliament and the Swedish government to pass legislation to address this digital transformation.
The Riksbank first called for the establishment of a committee to study cash in April 2019, and the Swedish Parliament approved the proposal in June 2019.
Ingves said: “We also need government help.”
“The Riksbank has not yet made a formal decision on whether to issue an electronic krona.” He said, “The decision to issue an electronic krona requires legal basis and political support.”
