Background and Implications of China's Central Bank Digital Currency: E-CNY

33 Univ. Fla. J.L. & Pub. Pol'y 237 (2023)

University of Florida Levin College of Law Research Paper No. 23-7

37 Pages Posted: 22 Mar 2021 Last revised: 27 Sep 2023

See all articles by Jiaying Jiang

Jiaying Jiang

University of Florida Levin College of Law

Karman Lucero

Paul Tsai China Center, Yale Law School

Date Written: January 11, 2021

Abstract

The People’s Republic of China is a leading experimenter in central bank digital currencies (CBDCs). This Article explores the current background, deployment, features, potential impacts, challenges, and legal concerns of China’s CBDC: the electronic yuan, or E-CNY. This Article explains the potential significance of what is known and not known about E-CNY with a particular focus on how E-CNY might fit into existing legal and economic systems, both within China and internationally. On the surface, E-CNY looks transformative. When you dig a little deeper, however, most of the potential changes or transformations turn on broader institutional, political, and legal changes that, so far, have not accompanied the deployment of E-CNY. Without those broader changes, the impact of E-CNY will likely remain limited, and E-CNY may not be able to achieve its policy goals.

Keywords: Central Bank Digital Currency, China's E-CNY

Suggested Citation

Jiang, Jiaying and Lucero, Karman, Background and Implications of China's Central Bank Digital Currency: E-CNY (January 11, 2021). 33 Univ. Fla. J.L. & Pub. Pol'y 237 (2023), University of Florida Levin College of Law Research Paper No. 23-7, Available at SSRN: https://ssrn.com/abstract=3774479 or http://dx.doi.org/10.2139/ssrn.3774479

Jiaying Jiang (Contact Author)

University of Florida Levin College of Law ( email )

P.O. Box 117625
Gainesville, FL 32611-7625
United States

Karman Lucero

Paul Tsai China Center, Yale Law School ( email )

127 Wall Street
New Haven, CT 06510
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
2,180
Abstract Views
5,407
Rank
13,633
PlumX Metrics