by Gary B. Gorton and Jeffery Y. Zhang[*] [Full text of this Article in PDF is available at this link] Introduction The advent of cryptocurrencies—particularly stablecoins, which are digital tokens that can circulate as private money—has ignited a debate on the government’s role in providing a sovereign alternative. This sovereign alternative is oftentimes referred to as a “central bank digital currency.” Dozens of governments and central banks are now deciding whether to create one and, if so, how to design and operationalize...

by Daleep Singh[*] [Speech in PDF is available at this link] Remarks delivered at the Harvard National Security Journal’s Symposium on Digital Currencies and National Security on October 14, 2022. [*] Chief Global Economist and Head of Global Macroeconomic Research at Prudential Global Investment Management (PGIM). Former Deputy National Security Advisor for International Economics and Deputy Director of the National Economic Council. The views expressed in this speech are the author’s own and do not represent any position of PGIM...

by Christopher J. Waller[*] [Speech in PDF is available at this link] Remarks delivered at the Harvard National Security Journal’s Symposium on Digital Currenciesand National Security on October 14, 2022. [*] Member of the Board of Governors of the Federal Reserve System. The views expressed in this speech are the author’s own and do not represent any position of the Board of Governors or other Federal Reserve policymakers.

by Howell Jackson[*], Antionette Schoar[†], and Timothy Massad[‡] [Commentaries in PDF is available at this link] [*] James S. Reid, Jr., Professor of Law, Harvard Law School. [†] Stewart C. Myers-Horn Family Professor of Finance and Entrepreneurship, MIT Sloan School of Management. Ph.D. in Economics, University of Chicago. [‡] Director of the Digital Assets Policy Project at the Harvard Kennedy School Mossavar Rahmani Center for Business and Government. Former Chairman of the Commodity Futures Trading Commission and former...