Are central bank digital currencies a way to target cryptocurrencies?

The authors discuss central bank digital currencies (CBDCs) in their article. First, they briefly discuss crypto assets and their characteristics. They then focus on emerging CBDCs, their nature and the various forms that CBDCs can take. Next, the authors address the question of how CBDCs may be regulated in legal systems and what their legal relationship to legal tender may be. In the last section, the authors then address whether legislatively sound CBDCs may threaten the use of digital currencies or stablecoins. They offer answers to this question at the end of the article.