Central Bank Digital Currencies (CBDCs) are the latest advancement in the area of digital money and payments. CBDCs would constitute a claim on the central bank, a central bank liability; CBDCs may be not only for domestic use, as, subject to the connectivity of the chosen type of technology, the digitization of international payments means that some CBDCs may potentially be used on a cross-border basis. One key challenge concerning CBDCs refers to the preservation of the privacy of citizens’ payments. Another is the role to be played by the private banking sector in the distribution and storage of CBDCs. A number of rationales have been suggested for the introduction of CBDCs, from financial inclusion to making innovation work for the common good. On the other hand, there is no widespread consensus as to the utility of CBDCs. The majority view is that CBDCs will be introduced as a form of digital money that is entirely distinct from cryptocurrencies, and will remain so.
{"title":"A critical evaluation of Central Bank Digital Currencies (CBDCs): payments’ final frontier?","authors":"Emilios Avgouleas, William Blair","doi":"10.1093/cmlj/kmae002","DOIUrl":"https://doi.org/10.1093/cmlj/kmae002","url":null,"abstract":"Central Bank Digital Currencies (CBDCs) are the latest advancement in the area of digital money and payments. CBDCs would constitute a claim on the central bank, a central bank liability; CBDCs may be not only for domestic use, as, subject to the connectivity of the chosen type of technology, the digitization of international payments means that some CBDCs may potentially be used on a cross-border basis. One key challenge concerning CBDCs refers to the preservation of the privacy of citizens’ payments. Another is the role to be played by the private banking sector in the distribution and storage of CBDCs. A number of rationales have been suggested for the introduction of CBDCs, from financial inclusion to making innovation work for the common good. On the other hand, there is no widespread consensus as to the utility of CBDCs. The majority view is that CBDCs will be introduced as a form of digital money that is entirely distinct from cryptocurrencies, and will remain so.","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"7 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2024-02-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140038014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Can GDP-linked debt be the answer to sovereign debt crises?","authors":"Maziar Peihani","doi":"10.1093/cmlj/kmad025","DOIUrl":"https://doi.org/10.1093/cmlj/kmad025","url":null,"abstract":"","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"63 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139254333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Auditors report and the German Capital Markets Model Case Act (KapMuG)—legal consequences for EY in the Wirecard scandal","authors":"Thomas M J Möllers","doi":"10.1093/cmlj/kmad026","DOIUrl":"https://doi.org/10.1093/cmlj/kmad026","url":null,"abstract":"","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"35 5","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139266657","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Journal Article Editors’ Note Get access Caroline M Gentile Caroline M Gentile E-mail: cgentile@law.fordham.edu Search for other works by this author on: Oxford Academic Google Scholar Capital Markets Law Journal, kmad022, https://doi.org/10.1093/cmlj/kmad022 Published: 02 November 2023 Article history Accepted: 18 October 2023 Published: 02 November 2023
期刊文章编者注获取访问Caroline M Gentile Caroline M Gentile E-mail: cgentile@law.fordham.edu搜索作者的其他作品:牛津学术谷歌学者资本市场法律杂志，kmad022, https://doi.org/10.1093/cmlj/kmad022出版日期:2023年11月2日文章历史接受日期:2023年10月18日出版日期:2023年11月2日
{"title":"Editors’ Note","authors":"Caroline M Gentile","doi":"10.1093/cmlj/kmad022","DOIUrl":"https://doi.org/10.1093/cmlj/kmad022","url":null,"abstract":"Journal Article Editors’ Note Get access Caroline M Gentile Caroline M Gentile E-mail: cgentile@law.fordham.edu Search for other works by this author on: Oxford Academic Google Scholar Capital Markets Law Journal, kmad022, https://doi.org/10.1093/cmlj/kmad022 Published: 02 November 2023 Article history Accepted: 18 October 2023 Published: 02 November 2023","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"56 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135975006","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do we really need a ‘perfectly reasonable investor’ within MAR?","authors":"Adrian Rycerski","doi":"10.1093/cmlj/kmad021","DOIUrl":"https://doi.org/10.1093/cmlj/kmad021","url":null,"abstract":"","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136023964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Understanding the inherent limitations of crypto finance in the Islamic finance context","authors":"Abdul Karim Aldohni","doi":"10.1093/cmlj/kmad017","DOIUrl":"https://doi.org/10.1093/cmlj/kmad017","url":null,"abstract":"","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135048152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The anatomy of crypto failures and investor protection under MiCAR","authors":"Ilya Kokorin","doi":"10.1093/cmlj/kmad019","DOIUrl":"https://doi.org/10.1093/cmlj/kmad019","url":null,"abstract":"","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134950149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Journal Article ClientEarth’s challenge of FCA approval of an energy company’s IPO prospectus: reflections on a novel climate activist approach Get access John Kwan John Kwan John.kwan@10be5.com Search for other works by this author on: Oxford Academic Google Scholar Capital Markets Law Journal, kmad018, https://doi.org/10.1093/cmlj/kmad018 Published: 02 September 2023 Article history Accepted: 14 August 2023 Published: 02 September 2023
{"title":"ClientEarth’s challenge of FCA approval of an energy company’s IPO prospectus: reflections on a novel climate activist approach","authors":"John Kwan","doi":"10.1093/cmlj/kmad018","DOIUrl":"https://doi.org/10.1093/cmlj/kmad018","url":null,"abstract":"Journal Article ClientEarth’s challenge of FCA approval of an energy company’s IPO prospectus: reflections on a novel climate activist approach Get access John Kwan John Kwan John.kwan@10be5.com Search for other works by this author on: Oxford Academic Google Scholar Capital Markets Law Journal, kmad018, https://doi.org/10.1093/cmlj/kmad018 Published: 02 September 2023 Article history Accepted: 14 August 2023 Published: 02 September 2023","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134951630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Journal Article Disintermediation of the US, EU and UK capital and financial markets Get access Edward F Greene, Edward F Greene Senior Research Scholar & Lecturer-in-Law at Columbia Law School and a Co-Director of the Program in the Law and Economics of Capital Markets at Columbia Law School and Columbia Business School E-mail: egreene@cgsh.com Search for other works by this author on: Oxford Academic Google Scholar Bree Morgan-Davies Bree Morgan-Davies Practice Development Lawyer and associate in the London office of Cleary Gottlieb Steen & Hamilton LLP Search for other works by this author on: Oxford Academic Google Scholar Capital Markets Law Journal, kmad020, https://doi.org/10.1093/cmlj/kmad020 Published: 31 August 2023 Article history Accepted: 14 August 2023 Published: 31 August 2023
期刊文章美国、欧盟和英国资本和金融市场的非中介化获取途径爱德华·F·格林，爱德华·F·格林哥伦比亚大学法学院高级研究学者兼讲师，哥伦比亚大学法学院和哥伦比亚大学商学院资本市场法律与经济项目联合主任E-mail: egreene@cgsh.com牛津学术谷歌学者Bree Morgan-Davies Bree Morgan-Davies在Cleary Gottlieb Steen & Hamilton LLP伦敦办事处的业务发展律师和合伙人搜索作者的其他作品:牛津学术谷歌学者资本市场法律杂志，kmad020, https://doi.org/10.1093/cmlj/kmad020出版时间:2023年8月31日文章历史接受时间:2023年8月14日出版时间:2023年8月31日
{"title":"Disintermediation of the US, EU and UK capital and financial markets","authors":"Edward F Greene, Bree Morgan-Davies","doi":"10.1093/cmlj/kmad020","DOIUrl":"https://doi.org/10.1093/cmlj/kmad020","url":null,"abstract":"Journal Article Disintermediation of the US, EU and UK capital and financial markets Get access Edward F Greene, Edward F Greene Senior Research Scholar & Lecturer-in-Law at Columbia Law School and a Co-Director of the Program in the Law and Economics of Capital Markets at Columbia Law School and Columbia Business School E-mail: egreene@cgsh.com Search for other works by this author on: Oxford Academic Google Scholar Bree Morgan-Davies Bree Morgan-Davies Practice Development Lawyer and associate in the London office of Cleary Gottlieb Steen & Hamilton LLP Search for other works by this author on: Oxford Academic Google Scholar Capital Markets Law Journal, kmad020, https://doi.org/10.1093/cmlj/kmad020 Published: 31 August 2023 Article history Accepted: 14 August 2023 Published: 31 August 2023","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135831317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Removing Bankers’ bonus cap: Will this enhance the competitiveness of the UK financial market?","authors":"J. Ho","doi":"10.1093/cmlj/kmad016","DOIUrl":"https://doi.org/10.1093/cmlj/kmad016","url":null,"abstract":"","PeriodicalId":43720,"journal":{"name":"Capital Markets Law Journal","volume":" ","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48869396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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