A legal approach to the Central Bank Digital Currency

Abstract

The evolution of money continues with the digital currencies. After the first cryptocurrency was launched the central banks start to evaluate on how to adopt these technologies to launch a digital currency issued by government. The financial sector and its regulation have also evolved over time, however during the last years due to the new players that entered in the system and regards the new technologies, the banking sector has had to accelerate its evolution and development. Digital currencies are now a reality though have brought new challenges for the regulator which seek to guarantee the security in the system, limit speculation, maintain trust in the financial consumer and search for new developments. These challenges have been addressed differently in each country, this document also include legislation cases in digital currency in various countries.