Swedish lawmaker Rickard Nordin has filed a motion to the Finance Committee suggesting a tax exemption on the use of Bitcoin for every day transactions.
Summary
- Swedish MP Rickard Nordin has proposed removing the 30% capital gains tax on small Bitcoin transactions to encourage everyday use.
- Nordin also called for adding Bitcoin to Sweden’s foreign exchange reserves, arguing it could diversify the country’s assets and serve as a hedge against inflation.
A member of the Swedish parliament recently proposed the exemption of Bitcoin from the country’s capital gains tax if it is used for small-scale, every day transactions. If approved, this would mean that Sweden’s 30% capital gains tax will not be applicable to small-scale BTC transactions in the state.
In a letter addressed to the Finance Minister, Nordin said removing capital gains tax on Bitcoin (BTC) could boost its use in Sweden and keep the country in line with global crypto trends. Not only that, Nordin also highlighted how Bitcoin could act as a hedge against inflation amidst economic volatility.
“Several states, institutions and companies have chosen to include Bitcoin in their asset strategies as a hedge against inflation, currency depreciation and geopolitical risks,” wrote Nordin in the justification part of his motion.
“Cryptocurrencies are already used as a means of payment in countries where inflation is high or where traditional banking is not as widespread as here,” he continued.
In addition, Nordin also urged the Finance Committee to consider adding Bitcoin to Sweden’s foreign exchange reserves.
At the moment, Sweden’s foreign exchange reserves mainly consists of traditional fiat currencies and assets like gold. Nordin believes that by allocating “a small portion” of the reserve into BTC, Sweden could diversify its financial asset portfolio and strengthen its position amidst risks in the international financial system.
He suggested that the government should start investing its seized cryptocurrency into the foreign exchange reserves instead of selling them.
Are the Swedish planning a national Bitcoin reserve?
In the letter, Nordin refers back to an earlier plea of his, which suggested establishing a national Bitcoin reserve. He emphasized how the largest cryptocurrency by market cap has grown into a force to be reckoned with as more countries and corporations have started stockpiling the asset.
“Several countries have already chosen to hold bitcoin as part of their reserves, and international institutions are closely monitoring developments,” said Nordin, adding that Bitcoin could give the national bank necessary experience in handling digital assets.
Back in April 2025, Nordin proposed the idea for a “budget-neutral” Bitcoin reserve to the Swedish finance minister. It was believed that his idea was inspired by President Donald Trump’s executive order to establish a national Bitcoin reserve that will be developed without tax payer’s money.
A few months later, on Oct.1, the suggestion was taken a step further when Swedish lawmakers submitted a parliamentary motion proposing the establishment of a strategic Bitcoin reserve. The proposal is set to be reviewed on Oct. 15.
Not only that, lawmakers also urged the government to maintain the legal status of Bitcoin, insisting that no changes should be made to Sweden’s current legal definition of the asset.
According to data from Bitcoin Treasuries, as much as 515,883 BTC are held by 13 governments across the globe. The United States occupies the top spot, holding 198,021 BTC which is worth around $24.36 billion. The U.S. BTC trove represents 0.94% of the global BTC supply.
On the other hand, China has the second largest Bitcoin holdings at 190,000 BTC despite having a nationwide ban on cryptocurrency trading in the nation. China’s BTC supply comes from seized cryptocurrency accumulated over the years.
