Publication Type

Journal Article

Version

submittedVersion

Publication Date

9-2023

Abstract

China's central bank digital currency (CBDC), digital yuan or e-CNY, is likely to profoundly affect the international financial system. China's CBDC is fast evolving. Understanding the influencing factors of China's CBDC will likely be crucial to explore its future direction. Major influencing factors include (i) China's perception and conception of regulation and technology, (ii) complementarity between China's preferences and CBDC development, (iii) domestic and international legitimacy, and (iv) institutional development. This paper argues that these influencing factors contribute to China's likely approach of selectively reshaping the international financial system. Given the potential wide-ranging implications of the introduction of CBDC globally, China's approach may be significant in the next evolution of money.

Keywords

Central bank digital currency, CBDC, Digital yuan, e-CNY, China, Technology, Regulation

Discipline

Asian Studies | Banking and Finance Law | Computer Law | Finance

Publication

Computer Law and Security Review

Volume

50

First Page

1

Last Page

17

ISSN

0267-3649

Identifier

10.1016/j.clsr.2022.105788

Publisher

Elsevier

Copyright Owner and License

Authors

Additional URL

https://doi.org/10.1016/j.clsr.2022.105788

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