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New digital currency study leads Swedish Central Bank to push back plans for digital currency—again
The Swedes are learning that their once pioneering vision for a central bank digital currency might take a lot longer to enact than initially thought. The Riksbank just published the results of the first phase of a pilot project into what is essentially the most advanced exploration of a post-cash era to be undertaken by a major, western economy. It says the rapid pace at which cash is disappearing presents “potential problems” that a digital currency controlled by a central bank can address. The task is huge and Sweden’s central bank, the world’s oldest, keeps pushing back its timeline. After once suggesting ... (full story)