Sweden is preparing to launch its own national cryptocurrency E-krona

The central bank of Sweden is studying the technical details of issuing a digital currency called E-krona. For the first time, Sweden announced its readiness to create its own token in the spring of last year, at the same time a commission was created, which began to study the technical side of the issue. This is reported by FinExtra .

The regulator said that the new financial instrument will allow citizens to pay for goods and services, and in the future will become the dominant means of payment in a country where the popularity of non-cash forms of payment is growing at a rapid pace – only 2% of payments in Sweden come in cash.

However, the work of the commission stretched out for a long time, and this week the Central Bank urged it to act more quickly. In addition, Central Bank experts should work out the issues of legal regulation of transactions with E-krona, so that this asset can be used on an equal footing with fiat crown.

According to the plans, citizens will keep tokens on their bank accounts to which the cards are attached. You can manage cryptocurrency funds through a mobile application.

The report of the Central Bank of Sweden says :

The development of one or more possible technical solutions will provide the regulator with more opportunities for maneuver and the knowledge necessary to make a decision about whether to release E-krona. A transaction control system using a digital crown must be established by the Central Bank together with other supervisory authorities.