Legal Status Needed for CBDCs

Central Bank Digital Currencies (CBDCs) are much talked about. The IMF has published a detailed paper – ‘Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations’ – which explains the legal position of CBDCs and has investigated the position of 171 IMF members to see which are currently able to issue a CBDC. The paper will help central banks think through this element of their CBDC preparations.