Sweden will accelerate preparations for the release of the digital crown
Sweden’s Central Bank is studying the technical details of the release of the digital currency called E— krona. For the first time about the readiness to create your own token Sweden announced last spring, at the same time, a Commission was established, which began to study the technical side of the issue. Reported by FinExtra.
The regulator said the new financial tool will enable citizens to pay for goods and services, and in the future will become the dominant means of payment in the country where the rapidly growing popularity of cashless forms of payment.
However, the work of the Commission lasted for a long time, and this week, the Central Bank encouraged it to act more rapidly. In addition, experts of the Central Bank needs to consider issues of legal regulation of transactions with E— krona that this asset could be used on equal terms with Fiat crown.
According to plans, citizens will store tokens in their Bank accounts, which are tied to the card. To manage cryptocurrency funds will be via a mobile app. In the message of the Central Bank of Sweden notes that:
The development of one or several possible technical solutions will give the regulator more room for manoeuvre and knowledge necessary for decision-making about whether to release E-krona. The system of control over transactions by using the digital crown is to be formed by the Central Bank jointly with other oversight bodies.