Two members of the Sweden Parliament, the Riksdag, suggested that the country investigate the establishment of a strategic bitcoin reserve to deal with inflation and varying its handling.
They also want the government to promise that it will not change the law governing the financial policy of the Central Bank of Sweden, to show that it is not intentional to introduce a digital central money to the bank.
In their riksdag proposal on Wednesday, Swedish democratic Dennis Dioukarev and David Perez Says That, because other countries like the US are in process of creating a reserveSweden should “participate in this digital arm race and join a growing group of countries that have accepted and recognizes the potential of Bitcoin.”
Similar to the US, Dioukarev and Perez floated in the idea of funding the reserve by seized Bitcoin, but said the decision of which authority to manage Bitcoin (Btc) is an “open question,” so far.
Sweden has no publicly listed in Bitcoin handles, According to In the Bitbo. However, in November 2024, the country introduced a law that allows authorities To confiscate expensive items, including crypto, even if they are not the target of an investigation.
Proponents for Bitcoin’s strategic reserves thought that the country’s level chapters were the next step to Bitcoin making the global currency reserves and the standard financial unit.
Swedish democratic people have an influence on the government
The right right Swedish Democratic received The second largest number of votes in the 2022 general election, with over 20%, and a major player in support of the current ruling coalition of moderate party, liberal and Christian democratic, giving them some influence on the minority government.
Dioukarev and Perez said in their proposal in Bitcoin that in the development of a strategic Bitcoin reserve, Sweden is positioning itself for a potential “disturbing transition to the global financial infrastructure.”
They argue that a Bitcoin reserves next to Sweden’s currency and gold reserves, which are tied to the dangers of “political, geopolitical and economic,” acting as a protection against any worldwide disturbance that otherwise affects the standard reserves.
“On the contrary, the value of Bitcoin is not driven by the financial policies of individual states or any specific economy, which can reduce overall reserve relationship.”
A sign that Sweden opens to change
At the same time, Dioukarev and Perez said “owner of Bitcoin’s signals that a country is open to digital change.”
The company database platform tracxn Lists 85 companies operating in the Swedish Crypto sector, including 20 collectives raised $ 48 million in venture capital and private funds.
At a practical level, Dioukarev and Perez argue that a reserve is acting as a protection against inflation, thus 21 million supply capTransaction speed is faster than Fiats, and coin costs are “neglected” compared.
“Bitcoin is currently the sixth largest property in the world, which is corresponding to silver and larger than global companies like Tesla, Meta and Amazon,” they said.
“Despite this, Bitcoin is just the beginning of its journey, and it remains to be seen exactly what the role of bitcoin will play in the economy.”
Dioukarev and Perez were not the first Swedish legislators to push for a reserve. In April, the Swedish MP and deputy leader of the Center Party, Rickard Nordin, released an open letter encouraging financial minister Elisabeth Svantesson To consider the Bitcoin adoption.
Related: Swedish Health Firm raises $ 10m to buy Bitcoin, Stock Jump 45%
Bitcoin is legal in Sweden, and crypto atm is Running In the country. Swedish administration authority controls the exchanges and implements anti-money laundering and Regulations to the known-lying.
There is no CBDC in Sweden
In conjunction with the proposal for a Bitcoin reserve, Dioukarev and Perez want the government to promise that it will not change the meaning of legal softness to RIKSBANK ACTwho manages the financial policy of the central bank of Sweden, Sveriges Riksbank, to show it “not intention Introduce a CBDC.
Sweden na Operated primarily by alternate digital currenciesTo most people who rely on mobile Swish mobile payment for payments. The country’s central bank also launched a CBDC pilot project in 2020, with its final report released In March 2024, declaring that it was “eventually a political decision,” whether or not it was introduced.
The Human Rights Foundation, which opens a CBDC Tracker In November 2023, Cites Improved payment efficiency and expanded financial integration as the potential benefits of CBDCs.
Drawbacks are listed as money potentially violating privacy and open new avenues of government corruption, among other concerns.
Magazine: Dangers to us are ‘front run’ in Bitcoin Reserve by other countries: Samson Mow
