중앙은행의 디지털화폐 발행 시 법률적 쟁점

This paper deals with various legal implications when the Bank of Korea issues digital currencies. The central bank system has been traditionally based on the issuance of real currencies such as notes and coins. and thus does not harmonize with the new eledronic version of legal tenders. First. this paper starts with a constitutional issue. That is, when the Bank of Korea issues digital currencies against all the people in Korea and makes its interest rate under the zero, sc called the measure of a rninus interest rate, it may infringe on the property rights of people under the Constitution. Second, this paper analyzes whether it is possible for the Bank of Korea to issue digital currencies diredly toward individuals and non-bank financial institutions. This issue is related to either the validity of commercial banks in the overall banking system or the efficiency of a monetary policy in Korea. Third, this paper covers all the possible legal issues after the adoption of digital currencies. In detai!, it inc1udes CD whether the digital currency is a subject of the Eledronic Financial Transadion Ad as if it is considered sirnilarly as an eledronic cash, @ whether the digital currency, after being deposited eledronically at commercial ba파(s， should be insured by the Korea Depositor Insurance Corporation as a deposit. This issue arises from the fad that the traditional deposit insurance system has been based on real cashes like notes and coins. @ whether the government or other institutions supervises and monitors the central bank effedively and controls its abuse of powers since the Bank of Korea will gain all the information and data as if it is a Big Brother in the novel "1984" authored by George Orwel1. Privacy issues may be considered deeply in this part. @ whether the traditional payment and settlement system operated by the Bank of Korea and other commercial ba때s， so called the BOK -Wire+ may be changed dramatically to the new system where commercial banks are of no use at alL At present, all the issues of this paper are very meaningful to acadernics and pradical areas in Korea because nobody has studied these issues from the perspectives of laws and legal institutions, This paper admits that some issues may be non-realistic α non -pragmatic. since the Koran government and the Bank of Korea have not considered them seriously so far, nor showed any positive movement toward the digital currency system officially. In the end, however, this study will be a cornerstone of later researches on the issuance of digital currencies by the central bank.