On the Money: Central Bank Digital Currency Explained

Overview of On the Money: Central Bank Digital Currency Explained

Central bank digital currencies (CBDCs) are the subject of this primer for attorneys. Panelists give an overview of central banking, fiat currency, and the central-commercial bank relationship, review modern payment systems and their pain points, cover stablecoins and tokenization, and highlight central bank CBDC initiatives around the world. It concludes with the challenges, uncertainties, and legal takeaways of CBDCs.

What you’ll learn in On the Money: Central Bank Digital Currency Explained

• Explain central banking, fiat currency, and payment systems
• Distinguish CBDCs from stablecoins and cryptocurrencies
• Survey global central bank CBDC initiatives and design considerations
• Identify privacy, AML, and consumer protection issues raised by CBDCs

Curriculum

1. 1. On the Money: Central Bank Digital Currency Explained 

   In this seminar, our expert panelists begin by providing an overview of central banking and its goals, fiat currency, and the relationship between central banks and commercial banks. Next, our speakers review the fundamentals of modern payment systems and their ‘paint points.’ Our experts briefly review stablecoins and tokenization, before highlighting some central bank initiatives across the globe and their key design considerations. Finally, our speakers conclude with the challenges, uncertainties, and key takeaways of central bank digital currencies. Topics covered in this webinar: Overview of Central Banking & Fiat Currency Payment Systems Stablecoins & Tokenization Central Bank Initiatives Central Bank Digital Currency Opportunities & Challenges

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Your instructors

Daniel B. Garrie

Founder, Law & Forensics; Neutral at JAMS; Faculty at Harvard

Law & Forensics LLC · JAMS · Harvard · Rutgers Law School · Journal of Law & Cyber Warfare

Daniel B. Garrie is the founder and executive managing partner of Law & Forensics LLC, a boutique cybersecurity and forensic engineering firm he co-founded in 2008. He serves as a neutral, arbitrator, and forensic special master at JAMS, focusing on cybersecurity, cryptocurrency, and complex technology disputes, and holds faculty appointments at Harvard and Rutgers Law School. A patented software inventor and prolific author, he is editor-in-chief of the Journal of Law & Cyber Warfare and a widely cited authority on computer forensics, eDiscovery, and cyber litigation.

David A. Cass

Senior Partner, Law & Forensics; Adjunct Faculty, Harvard & Rutgers Law

Law & Forensics LLC · Harvard · Rutgers Law School · Global Cyber Institute

David A. Cass is a senior partner at Law & Forensics LLC, where he leads the Cryptocurrency and Digital Banking Practice and is a member of the Cybersecurity and Forensics Practice. His background spans financial services regulation, cryptocurrency, digital assets, blockchain, and cloud, including service as a lead regulator at the Federal Reserve Bank of New York and as CISO and Global Partner of IBM's Cloud Security Service unit. He teaches as adjunct faculty at Harvard and Rutgers Law School and is a faculty member at the non-profit Global Cyber Institute.

Joshua Ashley Klayman

Firmwide Co-Lead of Digital Assets, Blockchain and Custody, Ashurst Perkins Coie

Linklaters

Joshua Ashley Klayman is Firmwide Co-Lead of Digital Assets, Blockchain and Custody at Ashurst Perkins Coie in New York. She advises digital-native companies, regulated businesses, global financial institutions, public companies and foreign governments on tokenization, stablecoin and token issuances, digital financial market infrastructure, and the application of the Uniform Commercial Code to digital assets and custody. From 2019 to 2026 she was Linklaters' U.S. Head of Fintech and Head of Blockchain and Digital Assets; from 2013 to 2018 she founded and chaired Morrison Foerster's Blockchain and Smart Contracts Group. The SEC and the CFTC have invited her to speak at their fintech-focused events and forums, and she co-founded Diversity in Blockchain, Inc. She holds a J.D. from Temple University's Beasley School of Law. At Legal Cyber Academy she teaches on blockchain, cryptocurrency, and digital asset regulation.

Paul McCulloch

Managing Partner, NYC CyberLaw Group, PLLC

NYC CyberLaw Group, PLLC

Paul McCulloch is Managing Partner of NYC CyberLaw Group, PLLC, advising traditional financial and DeFi entities, technology companies and government agencies at state, federal and international level on privacy, cybersecurity, money movement, emerging technology and financial services regulatory compliance. A New York-admitted attorney and information systems architect, he previously served as Vice President for intellectual property and technology law and digital compliance at J.P. Morgan, and has held roles at Deloitte, Oracle and Banco Santander. He holds an LL.M. from the University of London, a J.D. from Temple University Beasley School of Law and a B.A. from Emory University, is an IAPP Certified Information Privacy Manager, and co-chairs the IAPP's Puerto Rico KnowledgeNet chapter. At Legal Cyber Academy he teaches on central bank digital currency.

Chip Poncy

Global Head, Financial Integrity, K2 Integrity

K2 Integrity

Chip Poncy is Global Head, Financial Integrity, and a board member at K2 Integrity in Washington, D.C. He advises global banks, regional financial institutions, money services businesses and fintech companies on financial crimes compliance and risk management, and advises countries seeking to strengthen their anti-money laundering and countering the financing of terrorism regimes. He spent more than a decade as a senior advisor at the U.S. Department of the Treasury and served as the inaugural Director of the Office of Strategic Policy for Terrorist Financing and Financial Crimes, led the U.S. delegation to the Financial Action Task Force and co-chaired its policy working group. He holds a J.D. from Georgetown University Law Center and a B.A. in government from Harvard University. At Legal Cyber Academy he teaches on central bank digital currency.