迈向数字货币治理秩序:CBDC跨境监管困境与制度性路径重构OA

Against the backdrop of the global digitalization wave and increasing geopolitical games,central bank digital currencies(CBDC)are widely regarded as an important tool for reconstructing the cross-border payment system.Represented by international cooperation pilots such as Jasper-Ubin,Stella and mBridge,the current cross-border application of CBDC mainly presents three types of paths:bilateral interconnection,bridge docking and platform integration.These paths reflect the results of different countries' exploration in technical interoperability,institutional harmonization and governance structure evolution.Although technical experiments have preliminarily verified the feasibility of CBDC cross-border payments,it still faces many deep-seated challenges in the process of actual promotion,especially the non-uniformity of anti-money laundering and identification standards,significant differences in the application of legal rules,restricted cross-border flow of data,as well as divergence in governance concepts and ideologies,which have seriously constrained the large-scale application of CBDC in cross-border scenarios and the systematic construction of CBDC.In order to effectively deal with the above difficulties,the construction of CBDC cross-border payment system should be taken as an opportunity to promote the construction of a multilateral consensus-driven,system-compatible and adjustable digital currency governance order with flexible and prudent regulatory capabilities.Relying on the advantages of institutional participation and technological embedding in the mBridge program,China can continue to promote the expansion of the application of digital RMB in the cross-border payment system,and gradually build a digital currency settlement network with autonomy and global influence.