“At the moment, we assess the stability risks linked to crypto assets as limited, but it is an area we are keeping an eye on. The major risks we see today are primarily consumer protection risks,” writes Per Nordkvist, deputy business area manager for banking supervision at FI, in an email to TT.
“Crypto assets are generally unregulated in Sweden today, and there is a need for further regulation. However, a limited number of crypto actors are required to register with FI under the money laundering regulations,” he adds.
But FI does not plan to turn its back on colleagues in the US, where the SEC this week demanded reports from listed companies on exposure to the sector in the wake of the crash of the crypto empire FTX.
“No, it is not relevant at the moment given the assessment we make of the Swedish companies’ exposures,” writes Nordkvist.
According to Nordkvist, FI welcomes the upcoming EU regulation of the trade in crypto assets, which FI helped design.
“However, the regulation will not solve all the problems that exist in the crypto market today, and we refer consumers to our warnings,” he writes.