<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The possibility of introducing another form of official money, the Central Bank Digital Currency (CBDC), recognised by legislation, has long been discussed worldwide. This paper aims to analyse the advantages and disadvantages of such a solution, as well as to highlight the challenges facing legislatures about the possibility of legalising digital currency and, above all, protecting the rights and freedoms of citizens participating in the process. Due to its technological nature, CBDC is characterised by a much lower level of anonymity than conventional cash, which is often presented as a disadvantage. However, an analysis of this solution seems to weigh in favour of its advantages. One of them is the possibility of using CBDCs to support the process of financial inclusion referred to in the United Nations document <italic>Transforming our world: The 2030 Agenda for Sustainable Development</italic>. This is an important subject of academic research that can be carried out under the doctrine of financial-market law. Undoubtedly, this matter also has an increasing impact on the practice of financial-market functioning and fiscal and monetary policy decisions. In particular, financial law plays a key role in solving socioeconomic problems and is becoming an instrument for achieving the goals set by the United Nations. The research subject of CBDC is innovative and exploratory, as money, no matter how it is perceived, is, has been and will continue to be an instrument to change the world for the better.</p>
</abstract>

The possibility of introducing another form of official money, the Central Bank Digital Currency (CBDC), recognised by legislation, has long been discussed worldwide. This paper aims to analyse the advantages and disadvantages of such a solution, as well as to highlight the challenges facing legislatures about the possibility of legalising digital currency and, above all, protecting the rights and freedoms of citizens participating in the process. Due to its technological nature, CBDC is characterised by a much lower level of anonymity than conventional cash, which is often presented as a disadvantage. However, an analysis of this solution seems to weigh in favour of its advantages. One of them is the possibility of using CBDCs to support the process of financial inclusion referred to in the United Nations document Transforming our world: The 2030 Agenda for Sustainable Development. This is an important subject of academic research that can be carried out under the doctrine of financial-market law. Undoubtedly, this matter also has an increasing impact on the practice of financial-market functioning and fiscal and monetary policy decisions. In particular, financial law plays a key role in solving socioeconomic problems and is becoming an instrument for achieving the goals set by the United Nations. The research subject of CBDC is innovative and exploratory, as money, no matter how it is perceived, is, has been and will continue to be an instrument to change the world for the better.

Central Bank Digital Currency as a New Form of Money

Białostockie Studia Prawnicze

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"Central Bank Digital Currency as a New Form of Money"}

The possibility of introducing another form of official money, the Central Bank Digital Currency (CBDC), recognised by legislation, has long been discussed...

Central Bank Digital Currency as a New Form of Money

Published Online: Mar 13, 2024

Page range: 189 - 203

Received: Jun 30, 2023

Accepted: Dec 12, 2023

DOI: https://doi.org/10.15290/bsp.2024.29.01.12

Keywords
Central Bank Digital Currency, central banks, money, new technologies, sustainable development, trust

© 2024 Tomasz Nieborak, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Central Bank Digital Currency as a New Form of Money

Published Online: Mar 13, 2024

Page range: 189 - 203

Received: Jun 30, 2023

Accepted: Dec 12, 2023

DOI: https://doi.org/10.15290/bsp.2024.29.01.12

KeywordsCentral Bank Digital Currency, central banks, money, new technologies, sustainable development, trust

© 2024 Tomasz Nieborak, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Central Bank Digital Currency, central banks, money, new technologies, sustainable development, trust