01777cas a2200229 a 4500 AALejournalIMF021313 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513561622 1018-5941 BD-DhAAL BD-DhAAL Legal Aspects of Central Bank Digital Currency : Central Bank and Monetary Law Considerations. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (51 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational risks for central banks. While the appropriate design of the legal framework will up to a degree depend on the design features of the CBDC, some general conclusions can be made. First, most central bank laws do not currently authorize the issuance of CBDC to the general public. Second, from a monetary law perspective, it is not evident that 'currency' status can be attributed to CBDC. While the central bank law issue can be solved through rather straithforward law reform, the monetary law issue poses fundmental legal policy challenges. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2020/254 Full text available on IMF http://elibrary.imf.org/view/journals/001/2020/254/001.2020.issue-254-en.xml IMF e-Library