Cryptocurrency and monetary sovereignty of CFA zone states

Cryptocurrency and monetary sovereignty of CFA zone states

Can digital currency balance or replace legal tender in the CFA zone? The example of Central Africa

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The advent of crypto-currencies and digital currency issuers introduces a new component to the exercise of monetary sovereignty, which will be profoundly altered by the ability of crypto-currencies to undermine the influence of Central Banks. Crypto-currencies should lead to the further liberalization of an activity that was originally the preserve of the State through the Central Bank, and which is now open to commercial banks through the issuance of scriptural money. The new digital instruments are thus invading the sharing of seigniorage attached to the issue of money, inherent in the exerc...