Digital Assets and the Law: Fiat Money in the Era of Digital Currency

This book delves into the intricacies of digital assets. With the increasing reliance on crypto and the potential adoption of digital currencies by central banks, our monetary system is at a critical point. The importance of taking the next step has become even more stringent, as evidenced by this systematic scientific reconstruction.

Divided into five concentric parts, the book starts with a historical, technical and financial introduction to digital assets. It then explores the changing role of central banking and monetary economics in the upcoming era. Finally, it focuses on the broad legal issues arising from the new digital landscape, not shying away from exploring forward-thinking solutions and policies for the future.

With the contributions of prominent international experts in the field, this collection supplies a transdisciplinary analysis based on the belief that complex phenomena can only be handled by complex solutions. This groundbreaking work aims to be more than just an academic treatise; it is a must-read for students, scholars, financial professionals, and all those who want to understand the emerging digital currency reality that many have yet to fully recognise.

table of content

Part I: Overview

1. A History of Central Bank Digital Currency and the Money Monopoly, Franklin Noll

2. The Technological Factor in the Conception of Central Bank Digital Currencies, Vincenzo Vespri & Andrea Bracciali

Part II: Central Banking and Monetary Economics in the Digital Currency Era

3. Monetary Sovereignty in the Digital Currency Era, Christian Pfister
                                                                                                 
4. Central Bank Digital Currencies: A New Nexus Between Central and Commercial Banks?, Arthur Rossi

5. Unlocking the Potential of Central Bank Digital Currencies for Developing Countries, Sangita Gazi

6. A Universal Stablecoin to Rule Them All?, David Tercero-Lucas 

Part III: The Central Bank Digital Currencies in the Mirror

7. Implications of the Digital Euro for Monetary Policy Transmission Outside the Euro Area, Deyan Radev 

8. Digital Euro: Issued by Commercial Banks, Digitally Transforming the Industry, Philipp Sandner & Jonas Gross & Roman Avdeev 

9. How To Design a Private and Compliant Central Bank Digital Currency?, Jonas Gross 

10. Beyond Central Bank Digital Currencies: Lessons from Japan’s experience, Shuji Kobayakawa 

Part IV: Digital Currency, Cryptocurrencies and Stablecoins: Fiat Money and Legal Tender Now

11. The Applicable Laws to Cross-Border Payments in Central Bank Digital Currencies. The Late Lex Monetae or Long Live the Lex Monetae?, Caroline Kleiner 

12. ‘Legal tender’ and (Central Bank) Digital Currency: An Economic Law Analysis, Filippo Zatti

13. A European Central Bank Digital Currency Under German Law, Sebastian Omlor & Aurelia Birne 

14. The Digital Loonie: The Legal Framework for A Central Bank Digital Currency in Canada and Beyond, Poonam Puri & Ilona Larionova

15. The Evolution of the Finality of Payment or ‘How RTGSes, Instant Payment Systems and DLT Platforms Change the Concept of Money’, Rosa Giovanna Barresi

16. Central Bank Digital Currencies and the European Framework for Payments: Friends or Foes?, Gabriella Gimigliano & Maria Cecilia del Barrio Arleo 

17. The Digital Euro, the Stablecoins and the Banking Sector, Reyes Palá Laguna 

Part V: Towards the Uncharted Times of the Digital Assets Era

18. Decentralised Finance and Capital Markets Regulation, Eugenia Macchiavello 

19. Central Bank Digital Currencies: What future for banks and other financial intermediaries?, Francesca Mattassoglio 

20. Beyond Digital Assets: What is Next for Money and Payments?, Filippo Zatti & Rosa Giovanna Barresi