Editing Swedish krona (section)

== The e-krona ==

The e-krona (electronic krona) is a proposed [[electronic currency]] to be issued directly by the Riksbank. It is different from the electronic transfers using commercial bank money as central bank money has no nominal credit risk, as it stands for a claim on the central bank, which cannot go bankrupt, at least not for debts in Swedish krona.<ref name="Skingsley (2016)">{{cite web |url=http://www.riksbank.se/Documents/Tal/Skingsley/2016/tal_skingsley_161116_eng.pdf |publisher=[[Sveriges Riksbank]] |title=Should the Riksbank issue e-krona? |first=Cecilia |last=Skingsley |location=Stockholm |date=16 November 2016 |access-date=18 May 2017 |archive-date=20 October 2017 |archive-url=https://web.archive.org/web/20171020083416/http://www.riksbank.se/Documents/Tal/Skingsley/2016/tal_skingsley_161116_eng.pdf |url-status=live }}</ref>

The declining use of cash in Sweden is going to be reinforced cyclically. As more businesses find that they can function without accepting cash, the number of businesses refusing to accept cash will increase. That will re-enforce the need for more and more citizens to get the [[Swish (payment)|Swish]] app which is already used by half the population. Cash machines, which are controlled by a Swedish bank consortium, are being dismantled by the hundreds, especially in rural areas.<ref>{{cite news |url=https://www.nytimes.com/2015/12/27/business/international/in-sweden-a-cash-free-future-nears.html|newspaper=[[The New York Times]] |title=In Sweden, a Cash-Free Future Nears |first=Liz |last=Alderman |date=26 December 2015 |access-date=18 May 2017}}</ref>

The Riksbank has not taken a decision on issuing e-krona. First, the Riksbank needs to investigate a number of technical, legal and practical issues. "The declining use of cash in Sweden means that this is more of a burning issue for us than for most other central banks. Although it may appear simple at first glance to issue e-krona, this is something entirely new for a central bank and there is no precedent to follow". If the Riksbank chooses to issue e-krona, it is not to replace cash, but to act as a complement to it. "The Riksbank will continue issuing banknotes and coins as long as there is demand for them in society. It is our statutory duty and we will of course continue to live up to it," concluded Deputy Governor Cecilia Skingsley.<ref name="Skingsley (2016)"/>

In December 2020, Sweden's Minister for Financial Markets Per Bolund announced a government review to explore the feasibility of moving to a digital currency that was expected to be completed by the end of November in 2022. Anna Kinberg Batra, a former chairwoman of the Riksbank's finance committee, was announced as the leader of the review.<ref>{{Cite news|date=2020-12-11|title=Sweden Explores Moving to a Digital Currency|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-12-11/sweden-explores-the-feasibility-of-moving-to-a-digital-currency|access-date=2020-12-12}}</ref> As of 2023, no decision has been made.<ref>{{Cite web|date=2023-01-02|title=E-krona|language=sv|work=Riksbanken.se|url=https://www.riksbank.se/sv/betalningar--kontanter/e-krona/|access-date=2023-01-18}}</ref>