Legal Aspects of Central Bank Digital Currency and Central Bank Money
IMF, CCLS, Rebuilding Macroeconomics, and the Economic and Social Research Council will present working papers at a joint seminar, 3-4 December
The Legal Department of the IMF, the Centre for Commercial Law Studies of Queen Mary University of London, Rebuilding Macroeconomics, and the Economic and Social Research Council will present the conclusions of their respective Working Papers at a joint seminar: “Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Consideration" and “Central Bank Money: Liability, Asset, or Equity of the Nation?. The IMF Working Paper is the first publication that focuses on the central bank and monetary law aspects of CBDC. It concludes that most central bank laws will require amendments to authorise the issuance of CBDC and questions whether CBDC can be legally labelled as currency. The Working Paper on Central Bank Money challenges the conventional accounting and economic treatment of central bank money and concludes that it is not a liability of the central bank.
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