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Swedish central bank releases report on stablecoins, exploring their benefits and risks

Swedish central bank releases report on stablecoins, exploring their benefits and risks

金色财经金色财经2025/12/02 03:42
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Jinse Finance reported that Sveriges Riksbank, the central bank of Sweden, has released a report on stablecoins, exploring their benefits and risks. The report also analyzes how central banks around the world are formulating policies for stablecoin issuers, revealing that despite differences in regulatory frameworks, there is practical convergence in policies between the United States and Europe. The analysis by Sveriges Riksbank identifies three key central bank policy areas: whether issuers can access central bank settlement systems, whether central bank reserves can be used as backing assets, and whether issuers can obtain central bank standing facilities and liquidity support. Regulatory authorities in the United States and Europe have established legal frameworks that technically allow the use of central bank reserves as backing assets, while also implementing restrictive measures to limit their use. In Europe, MiCA (Markets in Crypto-Assets Regulation) allows stablecoin reserves to include central bank money, although the European Central Bank (ECB) and other EU central banks, including Sveriges Riksbank, refuse to allow central bank reserves as backing assets for stablecoins. However, new ECB rules allow non-bank payment service providers to use central bank accounts for payment purposes, maintaining only sufficient balances to support transaction flows.

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