Riksbank Requires Additional Protection Of Money
Sweden is additionally amongst the primary countries to adopt a regulation to make sure the access to and acceptance of money. a brand new law came into result on January first requiring banks to supply an adequate level of money services. The financial organization has been voiced concern regarding the risks related to the privatization of cash. Most voters would feel uncomfortable with surrendering these public services to personal firms entirely.”
Sweden has additionally been amongst the primary countries within the world to think about introducing a digital currency. The financial organization is already running a trial with Accenture Plc to introduce AN e-krona supported a similar blockchain technology that underpins digital currencies like Bitcoin.
On eleven Dec, the Ministry of Finance declared that a special investigator can review the role of the state within the payment market and confirm what the role ought to seem like within the future. The review is going to be supported a radical and broad analysis of Changes within the monetary and payment markets as a result of technological development and medical aid,
New payment strategies and declining use of banknotes, coins, and money
The future payment market.
Map out what the payment market appearance like; however, it's regulated and assess what the long run payment market can seem like supported developments in Sweden and in alternative countries, Map the division of roles between the state and also the businessmen within the payment market and take a footing on the state’s future role within the payment market. Take a footing on the suggests that means and wish sure means of payment to possess the standing of the monetary system. Take a position on the requirement for the Riksbank to issue digital financial organization cash, supposed e-krona, and Decide whether or not constitutional proposals or alternative measures are necessary and, if necessary, propose such. A reference cluster with representatives of all political parties within the Riksdag shall be hooked up to the investigator. The review should be completed no later than thirty Nov 2022.
CBW - External Analyst