Restricted access

Today’s economy is being transformed by digitisation, prompting central banks to seriously consider the issuance of central bank digital currencies (CBDCs’. In that context, many central banks are examining the relevant economic and political factors, as well as necessary regulatory reforms in order to weigh the benefits and disadvantages of issuing CBDCs. In addition to these factors, legal issues related to CBDCs and the possible need to adopt new legislation to address them, also deserve consideration. This chapter examines the legal characteristics of CBDCs by reference to the features of sovereign currencies and cryptocurrencies. It concludes that the issuance of CBDCs will require adapting national legal and regulatory frameworks, in order to ensure clarity around the status and legal characteristics of CBDCs.

You are not authenticated to view the full text of this chapter or article.

Access options

Get access to the full article by using one of the access options below.

Other access options

Redeem Token

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institutional Access

Personal login

Log in with your Elgar Online account

Login with you Elgar account
Editor: Jelena Madir
Monograph Book