Swedish lawmakers urge finance minister to consider national Bitcoin reserve

This week, two Swedish legislators urged the country’s finance minister to consider adding Bitcoin to the reserves of Sweden.

The member of the Democratic Sweden of Riksdag Dennis Dioukarev and the deputy Rickard Nordin published open letters to the Minister of Finance Elisabeth Svantesson, putting pressure for a national strategy which embraces Bitcoin in the context of future financial planning of the country.

Letter from Dioukarev, subject On April 14, proposed that Sweden begins to accumulate bitcoin using confiscated cryptographic assets. He underlined similar efforts in other countries, including the United States, which recently launched a Bitcoin National Reserve funded by seized funds.

“This is a trend seen in many countries,” wrote Dioukarev, asking if the Ministry of Finance intended to explore the idea.

North Letter of April 8 has made a similar case, asking the government to rethink its traditional reserve policy which focuses on traditional assets such as gold and to take the world rise of bitcoin more seriously.

“Have the Minister and the Government considered the possibility of allowing the Riksbank to include Bitcoin in the Monetary Reserve of Sweden, and will the Minister and the Government take measures to allow the Riksbank to do so?” He wrote.

Nordin has supervised Bitcoin not only as coverage against inflation, but also as a financial tool for activists and dissidents living in authoritarian regimes. Quoting his role as a payment system resistant to censorship, he suggested that Bitcoin aligns with democratic values ​​and freedom of expression.

To establish such a reserve, Nordin proposed a neutral budgetary approach which involves keeping any Bitcoin seized by authorities such as the Swedish customs agency or the police, rather than selling it.

“This is how the United States has built a considerable amount without the need to allocate budget funds or directly buy cryptocurrency,” he added.

Before the United States penetrated, the concept of Bitcoin National Reserve lived mainly in the circles of cryptography and reflections. This changed in March, when the return president Donald Trump signed a decree Transform Bitcoin into a formal part of the American sovereign toolbox.

The idea resonated beyond Washington since Trump promised to establish a Bitcoin national reserve. In January of this year, the governor of the Czech Central Bank Aleš Michl presented The idea of ​​bitcoin as a diversification tool.

Before that, the member of the French Parliament Sarah Knafo exhorted European nations are starting to build national Bitcoin reserves instead of a digital currency from the Central Bank.

However, not everyone is on board the idea. Australia, for its part, clearly said that it will not follow the United States on the way to the Bitcoin reserve. A spokesperson for the assistant treasurer said last month that the Albanian government was focused on regulations, not on accumulation.