Central Bank Digital Currencies - Their Importance & How they Can Disrupt

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SRA Competency

B; D

Level

Intermediate: Requires some prior subject knowledge

CPD

1.25 hours

Viewership

Access for entire organisation

Introduction

According to The Atlantic Councils' Central Bank Digital Currency Tracker there are 83 jurisdictions that are considering the issuance of a central bank digital currency (‘CBDC’).

Global standard setting bodies have produced numerous papers and proposals around how CBDCs may work and what the monetary and financial stability implications are.

In parallel there are various private sector driven initiatives in respect of digital payment tokens including USDC, Tether and Diem.

Most recently the Bank of England has acknowledged that the use of cryptoassets has grown by roughly 200% in 2021, from just under $800 billion to $2.3 trillion today.

Crypto-related technology offers a prospect of improvements in financial services.

While financial stability risks remain limited, the wide use of current applications is now a financial stability concern for several reasons.

This new webinar is suitable for commercial lawyers that work in financial services institutions, fintech policy or payments or related industries and will provide a regulatory outlook on the impact of CBDCs and digital payment tokens.

It will equip participants with the relevant legal questions when considering products or policy that relates to digital payments but also with a base understanding of the current proposals.