2023
DOI: 10.18034/ajtp.v10i1.660
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Should the Federal Reserve Issue a Digital Currency as Virtual Legal Tender? An Econo-legal Analysis Based on China’s Master Plan for De-dollarization

Alvin Hoi-Chun Hung

Abstract: Mainstream discussion on whether the Federal Reserve should issue a central bank digital currency (CBDC) as virtual legal tender focuses on five aspects related to the American domestic environment -- efficiency, privacy, safety and security, financial inclusion and exclusion, and impact on the current economic systems and monetary policies. This article takes a new and broader perspective on this critical issue by investigating how China, being the arch-international competitor of the US, has formulated a wel… Show more

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