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Sweden Becomes the First Country to Settle Debt via Bitcoin

Sweden became the first country in the world to accept bitcoins as a means to settle the debt. Unlike private businesses, many governments are reluctant to adopt bitcoins. However, this changed as Sweden accepted to settle the debt with the Swedish Enforcement Agency in the form of bitcoins.

Johannes Paulson, the director in charge of operation development at the Swedish Enforcement Authority, recently compared bitcoins to an asset that offers people the kind of access they never had before. Sweden will, however, not store bitcoins even if they continue accepting them as a means to settle bids. Instead, the coins will go to auction to the highest bidder.

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