{"id":282179,"date":"2022-12-16T09:45:29","date_gmt":"2022-12-16T09:45:29","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=282179"},"modified":"2022-12-16T09:17:54","modified_gmt":"2022-12-16T09:17:54","slug":"sweden-central-bank-preparing-for-e-krona-cbdc","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sweden-central-bank-preparing-for-e-krona-cbdc\/","title":{"rendered":"Sweden Central Bank preparing for e-krona CBDC"},"content":{"rendered":"<p>Sweden's central bank, Riksbank, is preparing to introduce a possible central bank digital currency (CBDC) \u2014 the e-krona \u2014 according to a Dec. 15 <a href=\"https:\/\/www.riksbank.se\/sv\/betalningar--kontanter\/sa-betalar-svenskarna\/betalningsrapport-2022\/riksbankens-arbete-och-policy\/riksbanken-forbereder-for-en-mojlig-e-krona-\/\">statement<\/a>.<\/p>\n<p>Riksbank said that it is &#8220;ready to be able to issue an e-Krona&#8221; if Sweden's legislature, the Riksdag, chooses to proceed with the asset's creation. The central bank said it is &#8220;therefore working to prepare for an issuable e-krona.&#8221;<\/p>\n<p>The central bank noted that an e-krona could complement cash as transactions become increasingly digital. In addition, a CBDC such as the e-krona would reduce reliance on private payment services and match the value of the Swedish krona.<\/p>\n<p>As such, an e-krona would &#8220;ensure that we preserve several of the functions of cash in a future where cash is no longer used,&#8221; Riksbank explained.<\/p>\n<p>Riksbank added that it has been working with the consulting firm Accenture since 2020 on a pilot project involving an e-krona. The second stage of that pilot concluded this year. The pilot is now in its third stage, which will continue into 2023.<\/p>\n<p>Riksbank said that it is examining ways in which an e-krona can be used on a technical level. Specifically, it considers ways to distribute the CBDC to the public and determine which participants can be involved with the asset.<\/p>\n<p>The bank is also exploring legal matters related to the e-krona, such as data protection, financial secrecy, and asset classification. Furthermore, it has sought input from various sources in 2022 through a dialogue forum and a Request for Information (RFI).<\/p>\n<p>Despite apparent progress on the matter, Riksbank made it clear that Sweden's legislature, Riksdag, has not yet decided whether to introduce an e-krona.<\/p>\n<p>It noted that the government began investigating whether to issue the CBDC in December 2020. The investigation results have been delayed from Nov. 30, 2022, to Mar. 31, 2023.<\/p>\n<p>Today's news provides little certainty about Riksbank's immediate plans, but it strongly suggests that the bank is closer to a working solution than was previously known.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sweden&#8217;s central bank, Riksbank, is preparing to introduce a possible central bank digital currency (CBDC) \u2014 the e-krona \u2014 according to a Dec. 15 statement. Riksbank said that it is &#8220;ready to be able to issue an e-Krona&#8221; if Sweden&#8217;s legislature, the Riksdag, chooses to proceed with the asset&#8217;s creation. The central bank said it [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":282226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76669],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sweden Central Bank preparing for e-krona CBDC<\/title>\n<meta name=\"description\" content=\"Sweden&#039;s central bank, Riksbank, suggested today that it is preparing for the potential introduction of a central bank digital currency \u2014 the e-krona.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/sweden-central-bank-preparing-for-e-krona-cbdc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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