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AUC IURIDICA, Vol 67 No 3 (2021), 111–127
Digital Yuan – Currency or Policy Tool?
Martin Samek, Martin Vlasta
DOI: https://doi.org/10.14712/23366478.2021.28
published online: 13. 09. 2021
abstract
Central bank digital currencies (CBDCs) are Bitcoin-inspired currencies that combine aspects of virtual currencies with FIAT money. Many central banks and countries around the world are thinking about or planning to introduce some form of CBDC. Among them, China is leading the way, being the first country to issue their CBDC (Digital RMB) into circulation, even if it is yet a pilot program only. This article focuses not only on the Digital RMB and its legal implementation but also on the political, historical, and economic circumstances of its birth, which, when talking about anything related to China, is often crucial to understanding the phenomenon more than the legal provisions themselves. The aim is to deepen the understanding of legal policies in China and open a discussion about the Digital RMB.
keywords: digital currency; CBDC; China; Yuan
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