This report explains China’s domestic and international ambitions in developing a central bank digital currency (CBDC), reviews the main technical framework of Digital Currency/Electronic Payment (DCEP) and discusses how the People’s Bank of China (PBOC) and private firms are working to implement it. The report also explores how this project adds to the Chinese Communist...

This briefing argues that there is a solid use case for central bank digital currency (CBDC) that justifies the intense interest across multiple jurisdictions. At the same time, establishing the architecture, infrastructure and rules for access to CBDC will entail design choices that are not without trade-offs.

Cryptomarkets represent a growing component of the illicit drugs trade. Australia is over-represented in the proportion of online vendors who use these platforms to reach drug consumers. This study found that vendors perceive less risk of police intervention when selling drugs online, and that the potential for profit exceeds that available when selling drugs offline.

China’s central bank digital currency, known as ‘DC/EP’ (digital currency/electronic payment), is rapidly progressing and, if successful, will have major international implications that have not yet been widely considered by policymakers.

This paper investigates and explains the design choices, mainly technical, but also financial and legal, that central banks will unavoidably encounter in their exploration of central bank digital currencies (CBDCs). Contributing authors include experts in computer science, economics and law, whose research and practical experience has a strong bearing on the design of digital currencies.