Swedish lawmakers suggest the finance minister include Bitcoin in the forex reserves.

On April 11, Cointelegraph reported that Swedish MP Rickard Nordin recently submitted an open letter to the Chancellor of the Exchequer, proposing to include Bitcoin in the country’s foreign exchange reserve system. The proposal was inspired by US President Donald Trump’s executive order on bitcoin reserves, proposing to be implemented in a “budget-neutral” manner. In the open letter, Nordin pointed out that “Sweden has traditionally adopted a conservative and prudent foreign exchange reserve strategy, mainly holding foreign currencies and gold, but the rapid development of digital assets cannot be ignored. Bitcoin has been regarded by many international institutions as a store of value against inflation, and is widely used as a means of payment in many parts of the world.” At the same time, the head of the Czech Central Bank is also considering including bitcoin in the strategy of diversifying foreign exchange reserves, but the EU as a whole is silent about bitcoin legislation and is more focused on the promotion of the digital euro. The founder of venture capital firm DFG believes that the EU’s lukewarm attitude towards Bitcoin stems from its priority on the digital euro, although the recent failure of the ECB’s T2 payment system raises questions about its ability to manage digital currencies. ECB President Christine Lagarde has made it clear that the planned launch of the digital euro in October this year will ensure its coexistence with cash and address privacy concerns through a “pseudo-anonymous” design. This is in stark contrast to the policy of the United States, where the Trump administration is staunchly opposed to central bank digital currencies and explicitly prohibits the issuance and circulation of any dollar-based CBDCs.