News
The Ethereum Merge could force many crypto miners to give up and abandon their expensive mining rigs amid a race to the bottom for profits.
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Sweden News
The Kingdom of Sweden is a Scandinavian country in northern Europe. Sweden has the third-largest area in the European Union and a total population of over 10.1 million. Sweden has one of the highest gross domestic product per capita and is considered to be the seventh richest country in the world. The Swedish economy is built on engineering, telecommunications, automotive and pharmaceutical industries. Sweden has a developed IT-sector and is interested in blockchain projects. Sweden has not banned Bitcoin, but established a regulatory framework for it. Swedish Bitcoin regulations view mined Bitcoins as an income from a hobby and has no tax over mining, if it is performed in Sweden by individuals. The Swedish financial supervisory authority is the organ responsible for Bitcoin regulation and requires cryptocurrency services to report Bitcoin trading as a financial service.
- News
A report by the Riksbank makes the case for banning Bitcoin mining in Sweden over proof-of-work energy consumption concerns; Bitcoin Twitter was quick to react.
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The Swedish CBDC is now technically ready for integration with banks and payment service providers, according to a report from Riksbank.
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European regulators are concerned about crypto's risks to climate change goals.
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The number of crypto-based exchange-traded products in Europe continues to expand as 2022 draws nearer.
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“The claim that Bitcoin miners jeopardize the electricity network is completely misinformed,” says EU-based fund manager Melanion Capital.
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In comments at a Swedish banking conference, Sveriges Riksbank Governor Stefan Ingves warned that private money “usually collapses sooner or later.”
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The Swedish prosecutor had argued in court that the man should be stripped of his illicitly earned Bitcoin at the equivalent value in fiat currency at the time of his conviction.
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The mainstream market now has a new way of buying and selling the crypto asset Polkadot — via an exchange-traded product.
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Riksbank governor Stefan Ingves said there’s “good reason to believe” that more regulatory oversight of cryptocurrencies is in the pipeline.
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Sweden will trial its CBDC with a live banking participant. The experimentation will involve participation between Riksbank and Handelsbanken, a retail bank chain based in Sweden.
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Stockholm-based crypto brokerage Safello saw its IPO oversubscribed by nearly $60 million, or 1,240% from the planned $5 million.
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Almost 5 million Swedes have indirect exposure to Bitcoin through the shares held by state pension fund AP7.
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The Sveriges Riksbank said that CBDC technology still requires further investigation.
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Sweden's financial regulator thinks retail investors should stay away from financial products that have volatile cryptocurrencies as their underlying asset.
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