The Central Bank of Sweden opposed the adoption of the first cryptocurrency in the country. The agency's report "Cryptocurrencies and their impact on financial stability" states that the main reason for this decision was the concern for the economy and the environment of the country.

The basis for the verdict of the Central Bank is its own study of mining BTC using the Proof-of-work algorithm. It is noted that this method of mining has too high impact on the environment, and therefore bitcoin mining should be banned.

In addition, the experts found that today in Sweden, the mining of cryptocurrency assets spends exactly as much electricity as would be enough to supply 200 thousand households. The regulator is not ready to compromise and rejects any possibility of accepting bitcoin in Sweden. At the same time, more and more bitcoin startups continue to appear in this country.

Swedish investors reacted negatively to the central bank's report. In their view, the regulator cares little about the environment. Its main goal is to control the financial industry of the country. They also added that the energy spent on bitcoin mining is not wasted.