Sweden: Parliament to Set Up Committee to Examine the State's Role in the Payment Market

On April 29, 2019, the Swedish parliament published a petition received by the Swedish central bank, Riksbank, which requested the establishment of a committee to be tasked with reviewing and assessing the concept of legal tender, as well as the role of state payment means in a digital economy.

In light of the ever declining use of cash, which as indicated by Riksbank is likely to result in the public no longer having access to generally accepted means of payments, the committee would also be tasked with reviewing the roles and responsibilities of the state (including Riksbank) and the private sector in a digital payments market.

By means of this petition, it is proposed that the committee, among others:

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