Central Bank Digital Currencies – the Future of the Monetary System?

Law Library of Congress Foreign Law Specialist Jenny Gesley described central bank digital currencies (CBDCs) and how they fit in the general monetary system. In particular, the webinar discussed the definition of money, fiat currencies, digital currencies, cryptocurrencies, and their similarities and differences. This webinar also explored whether CBDCs will eventually replace cash and what effect will they have on cryptocurrencies. Specific examples from jurisdictions around the world and their progress with CBDCs, including the Bahamas, China, Sweden, the European Union, Great Britain, and the United States, were highlighted. For transcript and more information, visit