It may be necessary to extend the ECB’s monopoly to issue legal tender banknotes to CBDCs. Central banks would also have to take account of Anti Money Laundering (AML) concerns and requirements. Issuing a CBDC that does not adequately comply with these and other supervisory and tax regimes would not be advisable 28.
It is currently not clear how AML requirements can be implemented practically for anonymous forms of CBDC. 4  CONCLUSION  To conclude, it is no understatement to say that there is an everchanging interplay between money and the central banks’ mandate to implement monetary policy and to safeguard financial stability.