Introduction

This course will provide an in-depth understanding of the legal and regulatory frameworks for Central Bank Digital Currencies (CBDCs) and how they relate to monetary policy, financial stability, and consumer protection. It will explore the various legal and regulatory challenges that CBDCs present and the potential solutions to these challenges through the analysis of real-world case studies, with a focus on the legal considerations for central banks.

Training Objectives

• Understand the legal and regulatory frameworks for Central Bank Digital Currencies (CBDCs) and how they relate to monetary policy, financial stability, and consumer protection.

• Analyze the various legal and regulatory challenges that CBDCs present and the potential solutions to these challenges.

• Understand the legal characteristics of different types of CBDCs and their implications for central banks.

• Understand international standards and best practices for CBDCs from a legal perspective.

• Analyze real-world case studies of CBDC projects and understand the legal considerations and measures taken by central banks.

• Understand the legal implications of CBDCs on financial stability and consumer protection.

• Develop the ability to identify legal opportunities and challenges of CBDCs and recommend solutions.

• Understand the future directions for CBDCs and legal and regulatory frameworks.

Target Audience

It is intended for:

Lawyers who are involved in the legal aspects of CBDCs in central banks, such as those working on CBDC projects, advising on legal and regulatory issues, or developing legal frameworks for CBDCs.

This course may also be beneficial for other professionals working in central banks who have a legal background or are involved in CBDC projects, such as:

• Economists,

• Technologists

• Compliance professionals.

• Lawyers working in other financial institutions, regulators, and academics who have an interest in CBDCs and the legal and regulatory challenges they present.

Course Outline:

Day 1: Introduction to CBDCs (Legal Perspective)

• Overview of CBDCs and their potential legal uses and implications
• Different types of CBDCs and their legal characteristics
• Global state of CBDC development and associated legal considerations
• Guest lecture from a central bank representative on CBDC legal frameworks and projects

Day 2: Monetary Law and CBDCs

• Impact of CBDCs on monetary policy from a legal standpoint
• Legal and regulatory frameworks governing CBDC issuance and use
• International standards and best practices for CBDCs
• Case study: Legal and regulatory analysis of a country that has launched a CBDC

Day 3: Financial Stability and CBDCs

• Legal implications of CBDCs on financial stability
• Potential legal risks and challenges associated with CBDC implementation
• Legal strategies to mitigate risks and ensure system stability
• Case study: Legal risk assessment of a CBDC project and mitigation measures adopted

Day 4: Consumer Protection and CBDCs

• Legal and regulatory frameworks for consumer protection in CBDC systems
• Consumer risks and challenges from a legal perspective
• Legal safeguards and protection mechanisms for users
• Case study: Consumer protection measures in a CBDC implementation

Day 5: Conclusion & Future Legal Directions

• Summary of key legal takeaways from CBDC frameworks
• Future developments in CBDC regulation and legal governance
• Emerging legal opportunities and challenges in CBDC ecosystems
• Interactive group discussion on legal implications and future directions of CBDCs