Swedish lawmaker Rickard Nordin has presented a proposal to the Finance Committee advocating for a tax exemption on Bitcoin transactions for everyday purchases.

Summary

  • MP Rickard Nordin has suggested abolishing the 30% capital gains tax on minor Bitcoin transactions to promote broader everyday usage.
  • Nordin has also recommended that Bitcoin be included in Sweden’s foreign exchange reserves to provide asset diversification and inflation protection.

A recently introduced motion by MP Rickard Nordin could lead to a significant shift in Sweden’s cryptocurrency landscape if approved. Nordin proposes an exemption from the country’s capital gains tax, which currently stands at 30%, for small Bitcoin transactions aimed at everyday purchases.

In a letter directed to the Finance Minister, Nordin articulated the potential benefits of such a tax exemption, arguing that it could enhance Bitcoin’s adoption in Sweden and align the country with emerging global cryptocurrency trends. He further expressed that Bitcoin possesses characteristics that may provide a safeguard against economic instability and inflation.

“Several jurisdictions, institutions, and corporations have opted to integrate Bitcoin into their asset strategies as a defense against inflation, currency depreciation, and geopolitical uncertainties,” Nordin stated in the justification for his motion. He noted that “in countries grappling with high inflation or limited traditional banking, cryptocurrencies are increasingly being utilized as a payment method.”

In addition to the capital gains tax exemption, Nordin urged the Finance Committee to explore the idea of adding Bitcoin to Sweden’s foreign currency reserves. Currently, Sweden’s reserves comprise mainly traditional fiat currencies and commodities like gold. Nordin believes that by allocating a “small percentage” of these reserves to Bitcoin, the nation can enhance its asset diversification and fortify its financial position against global economic risks.

Could Sweden Be Planning a National Bitcoin Reserve?

In his correspondence, Nordin revisited a previous initiative advocating for the establishment of a national Bitcoin reserve. He emphasized Bitcoin’s growing importance as more countries and institutions begin to stockpile the cryptocurrency.

“A number of nations have already incorporated Bitcoin into their reserves, and global financial organizations are closely tracking these initiatives,” Nordin remarked, highlighting that incorporating Bitcoin could also provide crucial experience for the national bank in managing digital assets.

Earlier this year, in April 2025, Nordin first presented the concept of a “budget-neutral” Bitcoin reserve to the Swedish finance minister, possibly inspired by former President Donald Trump’s directive to form a national Bitcoin reserve financed without taxpayer money.

Subsequently, on October 1, Swedish lawmakers submitted a parliamentary motion for the creation of a strategic Bitcoin reserve, which is slated for review on October 15. Lawmakers are also advocating for the preservation of Bitcoin’s legal status in Sweden, emphasizing that no alterations should be made to the current legal definitions governing the asset.

According to data from Bitcoin Treasuries, 515,883 BTC are held by 13 different governments around the globe. The United States leads this list with a holding of 198,021 BTC, valued at approximately $24.36 billion, representing 0.94% of the total global BTC supply. Following closely, China ranks second with 190,000 BTC, despite its national ban on cryptocurrency trading, with their holdings primarily stemming from confiscated assets amassed over time.