Monetary Sovereignty and Singleness of Money

Abstract

This chapter examines possible regulatory updates to address the challenges of monetary sovereignty and singleness of money. These two challenges are particularly pertinent to the new means of payments enabled by the use of distributed ledger technology (DLT). These new means of payment include cryptoassets such as bitcoin and ether, stablecoins and tokenized deposits. The degree to which these new means of payment can be a threat to monetary sovereignty and singleness of money can differ widely, depending on the contexts of the jurisdictions, as well as the details of these new means of payment themselves.

Citation

Moenjak, T. (2024), "Monetary Sovereignty and Singleness of Money", Central Banking at the Frontier, Emerald Publishing Limited, Leeds, pp. 103-122. https://doi.org/10.1108/978-1-83797-130-520241007