The Coming Central Bank Digital Currency Revolution and the E-CNY: Considerations and Ramifications

30 Pages Posted: 7 Nov 2022

See all articles by Heng Wang

Heng Wang

Singapore Management University - Yong Pung How School of Law; University of New South Wales (UNSW) - UNSW Law & Justice

Ross P. Buckley

University of New South Wales (UNSW) - UNSW Law & Justice

Date Written: November 2, 2022

Abstract

The only central bank money individuals and businesses have today is cash. Everything else they use as money is commercial bank promises. Central bank digital currencies (CBDC) will likely change all this by putting central bank money into everyone’s hands. China is a front runner in this revolution, and its CBDC, the e-CNY, may well in time profoundly affect the international economic order. This article analyses the major considerations around the e-CNY, its ramifications in particular for trade, and its possible challenges.

Keywords: Central bank digital currency, cryptoassets, stablecoins, e-CNY, digital yuan, Digital Currency/Electronic Payment (DC/EP), e-Renminbi, sovereign digital currencies

Suggested Citation

Wang, Heng and Buckley, Ross P., The Coming Central Bank Digital Currency Revolution and the E-CNY: Considerations and Ramifications (November 2, 2022). Forthcoming Singapore Journal of Legal Studies, UNSW Law Research Paper No. 22-35, Singapore Management University School of Law Research Paper , Available at SSRN: https://ssrn.com/abstract=4267581

Heng Wang (Contact Author)

Singapore Management University - Yong Pung How School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

University of New South Wales (UNSW) - UNSW Law & Justice

Kensington, New South Wales 2052
Australia

Ross P. Buckley

University of New South Wales (UNSW) - UNSW Law & Justice ( email )

Sydney, New South Wales 2052
Australia

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