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The Swedish government is progressing with its central bank digital currency, or CBDC, by launching a formal review of a potential transition to the digital currency.
According to a Bloomberg report published Friday, the review will explore the feasibility of moving the country s payments infrastructure to a digital currency. The country features one of the most cashless economies in the world.
Sweden’s financial markets minister, Per Bolund, reportedly said that the government expects to complete the digital currency review by the end of November 2022. Anna Kinberg Batra a former chairwoman of the finance committee at Sweden’s central bank, Riksbank would lead the initiative.