Why do Central Bank Digital Currencies need a solid legal foundations? As any form of money, digital currency requires a sound legal basis. The legal treatment of Central Bank Digital Currencies depends on its design features. The distinction between account-based and token-based has significant implications.
Catalina Margulis, a lawyer from the Legal Department of the IMF explains.
Interest in bitcoin and other cryptocurrencies may be surging, but central banks don’t want to be left behind by financial innovation. In fact, more than 80% are examining how to launch digital versions of their own currencies. CNBC’s Joumanna Bercetche takes a look at why these cautious institutions may soon be launching a revolution in how we think about money.
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