Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations

Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations &Central Bank Money: Liability, Asset, or Equity of the Nation?

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: “Legal Aspects   of   Central   Bank   Digital   Currency:   Central   Bank   and   Monetary   Law   Considerations” 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 authorize the issuance of CBDC and questions whether CBDC can be legally labeled 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.

Links to Working Papers  “Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations”:https://www.imf.org/en/Publications/WP/Issues/2020/11/20/Legal-Aspects-of-Central-Bank-Digital-Currency-Central-Bank-and-Monetary-Law-Considerations-49827“Central Bank Money: Liability, Asset, or Equity of the Nation?”*: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3730608*Research project founded by the Economic and Social Research Council

Dates:

Link: December 3, 11:00 AM – 1:00 PM Washington, DC time (EST) / (GMT 4:00PM-6:00PM):

December 4, 2:00 AM - 4:00 AM Washington, DC time (EST) / (GMT 7:00AM-9:00AM):