中央银行数字货币法律问题探析

Analysis on the Problems of the Central Bank Digital Currency

金融科技的进步,从早期的硬币和纸币到卡支付、电子货币、移动支付,以及比特币等加密货币的出现预示着金融和货币体系发生重要变革。加密货币与法定货币有着高度的相似性。这种功能相似性可能会给中央银行带来多重挑战,包括中央银行对基础货币发行的垄断权、价格稳定、支付系统的顺利运行、货币政策的实施,以及银行和金融体系的稳定等。面对这些挑战,央行开始探索和试验发行中央银行数字货币(CBDC)。因此,需要研究中央银行发行CBDC的原因、潜在影响、CBDC的主要模式和流通渠道,以及是否使用、如何使用分布式账本技术等问题。发行CBDC还面临着一系列法律挑战,解决此类法律挑战是一项艰巨的任务,需要修改多部法律法规。

Breakthroughs in financial technology(fintech),ranging from early coins and banknotes to card payments,e-money,mobile payments,and more recently,cryptocurrencies such as Bitcoin,portend transformative changes to the financial and monetary systems.Cryptocurrencies has a high degree of similarity to the base currency or central bank currency.This functional similarity may bring multiple challenges to the central bank,including the central bank's monopoly on the issuance base currency,price stability,smooth operation of the payment system,implementation of monetary policy,and stability of the banking and financial systems.Faced with these challenges,the central bank began to explore and test the issuance of the Central Bank Digital Currency(CBDC).This paper analyzes the reasons why the central bank issues CBDC,the potential impact,the two main modes of CBDC and the distribution channels,and whether or not to use and how to use distributed ledger technology,from a legal perspective to analyze a series of legal challenges faced by China in issuing CBDC.Resolving such legal challenges can be a daunting task that requires the revision of multiple laws and regulations.