Developments that Bring the Issue of a Digital Krona Back into Focus (Sveriges Riksbank)

Sveriges Riksbank submitted an official communication to the Riksdag Committee on Finance calling for a reassessment of the e-krona retail central bank digital currency (CBDC). A 2023 Swedish Government Payments Inquiry report had concluded that there was no sufficiently strong societal need for an e-krona, which led to a pause in e-krona preparatory work. However, the Riksbank now urges renewed preparation, citing a deteriorating geopolitical environment, the advancement of the digital euro, the emergence of stablecoins, and the need to safeguard the resilience and competitiveness of the Swedish payment system. Because implementing an e-krona requires significant technological development and complex legal updates with lead times exceeding five years, the Riksbank recommends immediately appointing a public inquiry to prepare the necessary legislative framework. This proactive measure ensures regulatory readiness should the Riksdag authorize e-krona issuance. [Sveriges Riksbank]

Japanese Banks Complete Stablecoin PoC (Finextra)

Sumitomo Mitsui Banking Corporation (SMBC), Mitsubishi UFJ Financial Group (MUFG), Sumitomo ⁠Mitsui Financial Group (SMBC) and Mizuho Financial Group conducted a proof-of-concept from July 17 to July 23, 2026, in regard to joint stablecoin issuance and advanced cross-border payments. Operating with support from Japan’s Financial Services Agency, the initiative evaluated issuing stablecoins as specified trust receivable rights under the Payment Services Act. The trial assessed regulatory compliance, anti-money laundering controls, and user protection within a multi-bank framework managed by SMBC and MUFG. Additionally, the participants simulated transactions across corporate locations to verify the technical feasibility and system reliability for international settlements. [Finextra]

Russia Will Ban Peer-to-Peer Bitcoin Trading (Bank of Russia)

According to an updated Bank of Russia FAQ, direct peer-to-peer crypto-asset transfers will be prohibited effective July 1, 2027, under Federal Law No. 282-FZ. Such transactions, including transfers through licensed digital depositories, must route exclusively through approved intermediaries. The legislation also prohibits individuals from moving crypto-assets to non-custodial wallets and restricts crypto-asset lending exclusively to brokers, trustees, exchanges, and clearing houses. While domestic crypto-asset payments remain strictly banned, the framework reportedly preserves exemptions for foreign trade settlements—a carve-out reportedly described by Duma officials as a mechanism to circumvent international sanctions. [Bank of Russia]

BTW if you want to see a complete database of my DFC-related posts going back years, including many that didn’t make the Daily Digest cut, click here.

FYI I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.