Fintech Notes

Private Law Aspects of Token-Based Central Bank Digital Currencies

By Marianne Bechara, Wouter Bossu, Amira Rasekh, Chia Yi Tan, Akihiro Yoshinaga

March 14, 2025

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Format: Chicago

Marianne Bechara, Wouter Bossu, Amira Rasekh, Chia Yi Tan, and Akihiro Yoshinaga. "Private Law Aspects of Token-Based Central Bank Digital Currencies", Fintech Notes 2025, 003 (2025), accessed April 23, 2025, https://doi.org/10.5089/9798229004282.063

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Summary

In designing central bank digital currencies (CBDCs), it is imperative that central banks carefully consider its legal foundations. As with any form of money, CBDCs require a solid basis under public and private law to provide it with the necessary legal certainty and political support that will underpin its wide circulation. This Fintech Note examines the private law aspects of token-based CBDC primarily intended for retail use. It follows a previous IMF working paper that examines the legal foundations of CBDC under central bank law and its treatment under monetary law—the main public law aspects of CBDC.

Subject: Central Bank digital currencies, Commercial banks, Currencies, Financial institutions, Money, Securities, Technology

Keywords: CBDC holder, Central Bank Digital Currencies, Commercial banks, Currencies, Financial Intermediaries, Global, IMF Fintech Note 2025/003, IMF Library, Legal Framework, Ownership Rights, Private Law, Private law aspect, Securities, Token-Based CBDC, TokenBased central bank digital currencies, Transfer Mechanisms

Publication Details

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