Central bank digital currencies. A critical assesment of regulations around the world

Abstract

Central bank digital currencies are no longer a matter of “if” but rather a matter of “when”, particularly if one considers their geopolitical implications. The main goal is to effectively assess the motivations, advantages and disadvantages behind the CBDCs initiatives, while also addressing the key concerns emerging from the implementation, regulation and supervision of CDBCs, so that they can turn into the backbone of an efficient, innovative digital payment system. The article focuses on central bank digital currencies (“CBDC”) from a regulatory point of view, critically examining the current progress of CBDCs across the globe, with major focus on eNaira, e-Yuan, Digital Pound, the Digital Dollar and the Digital Euro. The investigation will also highlight the content of the Regulation proposals presented by the European Commission on 28 June 2023.