Sweden's Riksbank Calls for Legislative Action on Digital Krona

Daily payments in Sweden may see new state-backed digital options in the future. Sweden's central bank, Sveriges Riksbank, asked parliament to prepare for a digital krona. The bank sent an official message to the parliamentary Committee on Finance. It advised lawmakers to draft laws needed for launching a digital currency.

The Riksbank noted that Sweden is moving fast toward a cashless society. People rely heavily on private digital payment systems today. Hybrid security threats also present risks to national payment stability. A central bank digital currency could make payments safer and more resilient.

Progress on the European Union's digital euro is another key reason for the push. The Riksbank wants Sweden to stay prepared as regional digital currency rules evolve. This update was originally reported by Crowdfund Insider.