Sweden May Issue Own Crypto As Asian States Get Firm On Bitcoin

Sweden May Issue Own Crypto As Asian States Get Firm On Bitcoin

Twists and turns in the field of crypto regulation remain unabated. As Sweden can become a pioneer in launching its virtual coin, several Asian countries are getting less friendly towards the crypto market.

Sweden Considers Emission of Own Crypto?

As NewsBTC.com reports, recently there has been released a note by the economy expert James Pomeroy, pinpointing that Sweden could become one of the leading countries which emit state digital coin – e-krona.

Interestingly, this country is the pacemaker in using electronic money: no other country can beat Sweden in using less cash than any other state in the world. So no wonder if Sweden central bank Riksbank indeed emits state’s virtual coin. However, as it is mentioned in the note, this may happen not earlier than in a year from now.

Meanwhile, Riksbank has found two ways through which e-krona could work. The first one is grounded on value, whereas the second on the record system. Although, it is possible that the bank uses both of them simultaneously.

Indonesia’s Warning

Digital money is not considered as means of payment in Indonesia, and the country doesn’t seem to be bitcoin-friendly in general. Furthermore, recently, the country’s leading bank confirmed this statement and emphasized that cryptos can be a threat to the steadiness of Indonesia’s economy. Therefore the bank cautioned everybody neither to vend/purchase nor trade cryptocurrency.

The view of the country’s authorities on cryptos hasn’t changed much since 2014. At that time the Bank of Indonesia stated that citizens should have been careful when dealing with bitcoin and its ilks due to the risks.

Tough Situation For Famous Exchange in Malaysia

On January 13 the account of the wallet provider Luno in the Malaysian bank was frozen by the country’s tax body. The exchange, which has been functioning in the state under the brand name ‘Bitx Malaysia’, believes that Malaysia’s Inland Revenue Board is probing a case connected with the tax disparity.

Luno is a platform, based in London, which also provides cryptos in such countries as Indonesia, Nigeria, South Africa and the EU region. But in Malaysia, it is not going through its best times as amid the investigation the exchange had to provide the authorities with the data concerning all of its Malaysian clients, including their ID, transactions and other operations, conducted through the platform.

Not So Bad – Singapore

Not all Asian countries stay against cryptos. For example, the head of Singapore’s central bank has been quite cheerful towards virtual money as they could be used positively. Recently, he even said that he hoped bitcoin’s core – blockchain – would survive a crash in case it had happened.