Central Bank-Backed Crypto Requires Regulatory Framework
Law360 (June 24, 2021, 12:35 PM EDT) -- The Bahamas and Cambodia have rolled out their own central bank-backed digital currencies, or CBDCs. China is already testing its CBDC, the digital yuan, which it hopes to roll out nationally. Meanwhile, Sweden and Indonesia have announced plans to launch CBDCs.
Not to be left out, the U.S. is also studying the feasibility of launching its own digital currency. Recently, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on the topic of CBDCs.
Such digital currencies are backed by a government and are not decentralized, which is essentially the opposite of the defining features of blockchain-based cryptocurrencies...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!