Prerequisite: None

Exam Type: No Exam

Over the past decade, the emergence of cryptocurrencies like Bitcoin and Libra has put pressure on central banks around the global to explore whether they also should develop digital currencies.  This reading group will focus on options for creating such central bank digital currency (CBDC) for the United States.  In addition to exploring the growing academic literature on the topic, the reading group will dig into practical, technical and legal challenges of designing a CBDC for this country.  Several attorneys currently working on these issues will participate in at least some of the sessions of the reading group.  Interested students will have opportunities to write independent papers or doing research work on related topics later in the academic year.  The subject matter of this reading group will complement Professor Jackson’s course on the Regulation of Financial Institutions and students are welcome to take both concurrently.  Readings will be drawn from recent scholarly work and public policy papers.

Note: This reading group will be held on the following dates: 9/7, 9/14, 9/21, 10/5, 10/19, 11/2, 11/9 & 11/16.