Digital Assets and the Law

This book explores the intricacies of digital assets, with a historical, technical and financial introduction. It considers the changing role of central banking and monetary economics in the upcoming era. It focuses on the broad legal issues arising from the new digital landscape, exploring forward-thinking solutions and policies for future.

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.

Auteur

Filippo Zatti is an associate professor in economic law at the University of Florence. He leads a working group called BABEL, which focuses on Blockchains and Artificial Intelligence for Business, Economics, and Law.

Rosa Giovanna Barresi **is a lawyer focusing on corporate and financial law. She teaches at the University of Florence's School of Economics and Management as an adjunct professor for the Lab in Cryptoassets.

Contenu

Part I: Overview; 1. A History of Central Bank Digital Currency and the Money Monopoly; 2. The Technological Factor in the Conception of Central Bank Digital Currencies; Part II: Central Banking and Monetary Economics in the Digital Currency Era; 3. Monetary Sovereignty in the Digital Currency Era; 4. Central Bank Digital Currencies: A New Nexus Between Central and Commercial Banks?; 5. Unlocking the Potential of Central Bank Digital Currencies in Developing Countries; 6. A Universal Stablecoin to Rule Them All?; Part III: The Central Bank Digital Currencies in the Mirror; 7. Implications of the Digital Euro for Monetary Policy Transmission Outside the Euro Area; 8. Digital Euro: Issued by Commercial Banks, Digitally Transforming the Industry; 9. How To Design a Private and Compliant Central Bank Digital Currency?; 10. Beyond Central Bank Digital Currencies: Lessons from Japan's experience; Part IV: Digital Currencies, Cryptocurrencies and Stablecoins: Fiat Money and Legal Tender; 11. The Applicable Laws to Cross-Border Payments in Central Bank Digital Currencies. The Late Lex Monetae or Long Live the Lex Monetae?; 12. 'Legal tender' and Central Bank Digital Currency; 13. A European Central Bank Digital Currency Under German Law; 14. The Digital Loonie: The Legal Framework for A Central Bank Digital Currency in Canada and Beyond; 15. The Evolution of the Finality of Payment or 'How RTGSes, Instant Payment Systems and DLT Platforms Change the Concept of Money'; 16. Central Bank Digital Currencies and the European Framework for Payments: Friends or Foes?; 17. The Digital Euro, Stablecoins and the Banking Sector; Part V: Towards the Uncharted Times of the Digital Assets Era; 18. Decentralised Finance and Capital Markets Regulation; 19. Central Bank Digital Currencies: What future for banks and other financial intermediaries?; 20. Beyond Digital Assets: What is Next for Money and Payments?