مجلة الباحث الإقتصادي
Volume 13, Numéro 1, Pages 110-132
2025-06-30
The Impact Of Cbdcs On Traditional Financial Systems And Regulatory Landscapes- Global Case Studies -
Authors : Cedra Anissa . Kennar Bahia .
Abstract
The current study investigates the manner in which decentralized technologies, specifically asset tokenization and Central Bank Digital Currencies (CBDCs), affect traditional financial systems and global currency dynamics. The fundamental purpose of this research is to understand how newly created technologies impact regulatory frameworks, market liquidity, and financial stability. This study delves into how tokenization revolutionizes payment processing by boosting liquidity, enhancing market efficiency, and ensuring tighter regulatory compliance. This is achieved by integrating a comprehensive review of existing literature with an in-depth comparative analysis of regulatory frameworks in major economies, including the United States, the European Union, the United Kingdom, Switzerland, Australia, Japan, and South Korea.For example, while tokenization streamlines the flow of assets, its impact on regulatory harmonization across these diverse markets also emerges as a key theme. Ultimately, the paper offers both theoretical insights and practical examples, underscoring the transformative role of tokenization in today’s financial landscape. Furthermore, the study assesses the possible disruptions to traditional reserve currencies and the global financial system caused by CBDCs. The major findings show that tokenization improves market liquidity by allowing fractional ownership and reducing reliance on intermediaries that use blockchain technology. Subsequently increases market efficiency and regulatory compliance through automation and transparency. CBDCs, while potentially beneficial for financial inclusion and efficiency, pose significant threats to the dominance of traditional currencies such as the US dollar, which could have an impact on global economic stability. The analysis demonstrates an inconsistent regulatory framework, with varied levels of tolerance and concern for specific technologies. Major challenges include coordinating policies across borders and addressing concerns about financial stability and security.This study offers crucial insights for regulators, financial institutions, and investors as they adapt to the rapidly evolving landscape of digital finance.
Keywords
Central Bank Digital Currencies ; CBDC ; Digital Currency ; Digital Fiat Currency ; Blockchain Technology ; Cryptocurrency
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