• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: KyberSwap Hacker Demands Full Control, Sets December 10th Deadline
sweden bank

Sweden’s Central Bank Asks Gov’t: What’s ‘Legal Tender’?

Matthew North by Matthew North
5 years ago
in Altcoins, Bitcoin, News, News teaser
0

Sweden’s central bank has its parliament to form a committee to review what constitutes legal tender in the country.


Originally reported by Bloomberg’s Amanda Billner, the new committee will give a definitive answer on the definition of legal tender as Sweden increasingly moves away from cash to credit and debit cards for paying for goods and services.

Sweden moving away from cash to digital payments

A statement was given by Sweden’s central bank that seems to clarify its position while also stressing the definition of legal tender’s significance.

For 350 years, Swedish society has relied on the Riksbank to provide the general public with various forms of the country’s currency, the Swedish krona. Cash issued by the Riksbank has been legal tender since the 1850s. Cash use has decreased rapidly in Sweden and a scenario within the not-too-distant future, in which cash is not generally accepted, can’t be ruled out.

The Swedish cash situation appears to be severe as originally reported by Billner. The author claims that every business from banks to restaurants have refused to either dispense or accept cash as a form of payment. As such, mobile payment apps such as Swish (which is used by 6.3 million people) and bank cards as digital payments have surged in the country.

As originally reported by The Local SE, Sweden made an average of 461.5 digital transactions “which  corresponds to a 13 percent increase in just one year according to the annual World Payments Report.”

Ready for an E-Krona?

Due to the fact that Sweden appears to be increasingly moving away from cash to electronic payments, it would make sense then to deduce that a national cryptocurrency is both feasible and realistic, however, details on the coin have remained sparse.

sweden bitcoin

As Bitcoinist reported last year in January, Sweden’s central bank was looking at introducing its own digital currency named the e-Krona “in as few as two years.”

In a research note posted by HSBC economist James Pomeroy, he stated the scope of the possible digital currency and how it might be used.

The so-called e-Krona will have to be able to be used for small purchases, as a claim on the Riksbank and be accessible by companies, individuals and financial institutions at all times.

Interestingly, one theory says the cryptocurrency would “stored in accounts held in a centralized database,” undermining the entire premise of having a decentralized cryptocurrency like Bitcoin.

More recently, Bitcoinist reported of hackers changing the country’s official currency to Bitcoin for a few minutes.

Will Sweden be one of the first countries to issue its own cryptocurrency? Share your thoughts below!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Matthew North

Matthew North

Related Posts

Ethereum

Ethereum Metaverse Game Immortalizes Rapper ‘The Notorious B.I.G.’

9 hours ago
BlackRock Bitcoin

BlackRock Has Actually Seeded Its Bitcoin Spot ETF, What This Means

11 hours ago
Cryptocurrencies

Cryptocurrencies Fund Inflows Skyrocket To $1.76 Billion, Fear/Greed Index At Pinnacle

12 hours ago
Platypus Finance

Platypus Finance Hackers Acquitted: ‘Ethical Hacker’ Defense Prevails

19 hours ago
Bitcoin

Bitcoin Goes Cosmic: US Space Force Official Labels Crypto As Nationally Strategic

1 day ago
Crypto

Crypto Leaders Sound The Horn: Bitcoin Bull Run Onward, Eyes $100,000 By 2024

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Top 3 Altcoins to Explode in December: BNB, ADA, and QUBE

    6 hours ago
  • Avalanche and NEAR Protocol Displaying Promise, While a New...

    7 hours ago
  • Crypto Race 2023: Rebel Satoshi, Arbitrum, and EOS Lead the...

    7 hours ago
  • 3 Reasons Memeinator Tops List of Altcoins to Watch in 2023

    11 hours ago
  • Meme Coin that Makes an Impact – How Chimpzee Strengthens...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.