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Navigating Central Bank Digital Currencies
- Global
- Crypto assets
- Financial services
- Financial services - Digital Financial Services
- Financial services - Payment services
23-09-2021
Once the niche projects of eccentric pioneers who dreamed of a world without fiat currencies or central banks, digital currencies have outgrown their rebellious youth and made their peace with the establishment as central banks in the UK, EU, Sweden, Switzerland and China vie to issue their own digital currencies, collectively known as central bank digital currencies (“CBDC”).
CBDCs, which are linked at par to the value of the fiat currency of the issuing state, so that one pound in a digital coin format is worth the same as a physical one pound coin in your hand, arguably have more in common with stablecoins than crypto currency as a form of digital currency. The value of crypto currencies are prone to extreme volatility.
The motivations behind the various projects reflect the concerns of the different states.
In this briefing, our global Eversheds Sutherland Financial Services team outline UK "Britcoin", the Digital Euro, the Digtial E-Krona, the Digital Swiss Franc and the Digital Yuan and what marks them apart.
Read the briefing >
This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.
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