It is ultimately up to the legislator

To summarise, find out if the Central Bank Act already has the mandate to issue a Central Bank Digital Currency (CBDC). It is nevertheless reasonable to consider getting clearer legislation reviews as to regards the Central Bank’s mandate and scope for issuing account-based and Value-based digital currencies is within the Central Bank Act. This assessment […]

Anonymity and integrity

Complete anonymity and integrity cannot technically be fully offered. It is technically possible to build a value based CBDC that can be used anonymously, that is, without the payer having to identify herself when making a payment. A pre-loaded card could also be transferred to another person after purchase, in principle when cash changes ownership. […]

Combination of new and older technology

For the CBDC to be constant spendable, it must also be possible to use it when the payer and/or payee is out of reach from their network service provider, – when they have no internet connection or telecommunications. This applies to both the account-based and value-based solution. An offline functionality, which works without risk and […]

What functions should a CBDC have?

There has been done a lot of research around the world in a broad dialogue with companies and general public authorities, in order to discuss how a proposed central bank digital currency concept should function. Those bilateral meetings were focused on how to find out how agencies and private agents could look upon a central […]

Monetary policy and financial stability

What determines the demand for central bank digital currency?  If the Central bank wanted to have a certain volume of CBDC use in normal times to ensure that the system also works smoothly in times of crisis, it would have to consider how to make the CBDC sufficiently attractive to achieve its objective. The CBDC […]

What does the law say about limits?

To be able to decide on who should have access to account-based and value-based central bank digital currencies, one must first and foremost find out what is possible with the existing legislation. Must CBDC be offered to everyone regardless of domicile, or is there an opportunity to limit access if this should prove undesirable? It’s […]

CBDC in legal terms

CBDC in legal terms. The central bank digital currency can be issued value-based, like electronic money, or account-based, a currency comparable with deposits in a bank. The design of value-based digital currency is governed by the Electronic Money Act. In legal term, most payment transactions according to a state’s Payment Service Act, a value-based CBDS […]