The Swedish Financial Supervisory Authority (Finansinspektionen, FI) took part in Stockholm Fintech Week on 18–19 March through its innovation centre, hosting a well-attended dialogue meeting on stablecoins at FI’s premises and providing regulatory guidance to fintech firms during the conference at Münchenbryggeriet. Around 50 participants joined the stablecoin dialogue, including fintech firms, crypto-asset service providers, banks, insurers, law firms, public authorities, academia, industry associations and venture capital firms. FI set out its view of crypto-assets and the risks it has previously highlighted, including consumer protection risks, criminal use and, for some crypto-assets, negative environmental impacts. The discussion centred on stablecoins classified as e-money tokens under the Markets in Crypto-Assets Regulation (MiCA), meaning crypto-assets linked to a single official currency, most often the US dollar. Topics included payment use cases, where criminal-use risks are assessed to be greatest, and collective mitigation approaches, with participants pointing to potential payment applications in tokenised securities trading and in connection with agentic AI. Mitigation discussions emphasised transactions where one or both parties fall outside regulation, the need to further develop solutions to privacy challenges on public blockchains, and a potentially expanded role for authorities and law enforcement. In a second session, Sveriges Riksbank presented its perspective, noting that the stablecoin market is dominated by two dollar-based stablecoins and that the primary use remains trading in other crypto-assets; the dialogue also covered risk transmission, potential threats to Sweden’s strategic sovereignty and ecosystem fragmentation, with some participants calling for a SEK- or euro-based stablecoin as a counterweight to dollar dominance. FI’s innovation centre also staffed a booth for the third year running with senior experts across FI’s supervisory areas to answer questions and guide firms on rules, processes and principles relevant to innovation.
Finansinspektionen 2026-03-27
Swedish Financial Supervisory Authority hosts MiCA-focused stablecoin dialogue and offers fintech guidance at Stockholm Fintech Week
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) participated in Stockholm Fintech Week, hosting a dialogue on stablecoins and providing regulatory guidance to fintech firms. Discussions focused on stablecoins as e-money tokens under the Markets in Crypto-Assets Regulation (MiCA), addressing risks like consumer protection, criminal use, and environmental impacts. FI also highlighted the dominance of dollar-based stablecoins and the potential need for a SEK- or euro-based alternative.