1. Course Overview

This program equips policymakers, central bank officials, financial‑sector regulators, and development practitioners with the tools to understand, evaluate, and design policy responses to digital currencies, including Central Bank Digital Currencies (CBDCs), stablecoins, and crypto‑assets.

The course aligns with the World Bank Digital Money Framework, IMF Fintech Notes, BIS CBDC Principles, and global best practices for financial stability, consumer protection, payments modernization, and cross‑border policy coordination.

Participants learn the economic, technological, regulatory, and policy implications of digital currencies and how to integrate them into national financial‑sector strategies.

2. Learning Objectives

Participants will be able to:

• Understand the fundamentals and design principles of digital currencies.

• Distinguish between CBDCs, stablecoins, crypto‑assets, and tokenized deposits.

• Evaluate the macroeconomic, financial‑stability, and monetary‑policy implications.

• Assess risks related to cybersecurity, AML/CFT, data governance, and consumer protection.

• Analyze cross‑border payment implications and global regulatory developments.

• Design policy frameworks for digital currency adoption or regulation.

• Integrate digital currency considerations into national financial‑sector strategies.

• Prepare policy briefs aligned with World Bank and IMF standards.

3. Target Audience

• Central bank officials and payments departments

• Financial‑sector regulators and supervisors

• Ministries of Finance and digital‑economy units

• Financial‑stability and monetary‑policy analysts

• World Bank–funded digital‑finance and payment‑system reform teams

• Banking and fintech sector professionals

• Researchers and consultants in digital finance

4. Detailed Course Outline

Module 1: Introduction to Digital Currencies

• Evolution of money and digital transformation

• Types of digital currencies: CBDCs, stablecoins, crypto‑assets, tokenized deposits

• World Bank and IMF perspectives on digital money

• Global trends and country case studies

• Opportunities and risks for developing economies

Module 2: Central Bank Digital Currencies (CBDCs)

• Retail vs. wholesale CBDCs

• CBDC design choices: architecture, access, technology, privacy

• BIS foundational principles for CBDCs

• Motivations for CBDCs: inclusion, efficiency, resilience, competition

• Lessons from global CBDC pilots (Bahamas, China, Nigeria, etc.)

Module 3: Stablecoins & Private Digital Money

• Types of stablecoins: fiat‑backed, crypto‑backed, algorithmic

• Reserve management and redemption risks

• Systemic risks from large global stablecoins

• Regulatory approaches (FSB, BIS, World Bank guidance)

• Implications for cross‑border payments and remittances

Module 4: Crypto‑Assets & Tokenization

• Crypto‑asset ecosystem overview

• Tokenization of financial and real‑world assets

• Risks: volatility, leverage, liquidity, cyber, operational

• DeFi (Decentralized Finance) and financial‑stability concerns

• Supervisory challenges and regulatory responses

Module 5: Payments Systems & Digital Public Infrastructure

• Digital payments modernization

• Interoperability and instant payments

• Digital ID, data governance, and authentication

• Role of digital public infrastructure (DPI) in digital currency ecosystems

• Ensuring resilience and security in digital payments

Module 6: Macroeconomic & Monetary Policy Implications

• Impact on monetary policy transmission

• Currency substitution and capital‑flow volatility

• Implications for banking sector intermediation

• Financial‑stability considerations

• Managing transition risks in digital‑currency adoption

Module 7: Regulatory & Legal Considerations

• Legal frameworks for digital currencies

• Licensing and supervision of digital‑asset service providers

• AML/CFT compliance and FATF standards

• Consumer protection and market‑conduct rules

• Data privacy, cybersecurity, and operational resilience

Module 8: Cross‑Border Payments & International Coordination

• G20 roadmap for enhancing cross‑border payments

• Interoperability of CBDCs across borders

• Correspondent banking and digital alternatives

• Regional payment integration initiatives

• International cooperation and standard‑setting bodies

Module 9: Policy Design & National Strategy Development

• Assessing readiness for CBDCs or digital‑currency regulation

• Designing national digital‑currency strategies

• Stakeholder engagement and public communication

• Managing risks and ensuring inclusive outcomes

• Integrating digital currencies into financial‑sector development plans

Module 10: Practical Exercises & Capstone Project

• Designing a CBDC concept note

• Conducting a risk assessment for stablecoins in a simulated economy

• Developing a regulatory framework for digital‑asset service providers

• Preparing a digital‑currency policy brief

• Capstone: Develop a National Digital Currency Policy Framework for a simulated country

5. Training Methodology

• Expert‑led lectures and guided discussions

• Hands‑on policy analysis and risk‑assessment exercises

• Case studies from World Bank, IMF, BIS, and global digital‑currency pilots

• Group work and scenario‑based simulations

• Practical sessions on payments systems, regulation, and macro‑financial analysis

• Capstone project with peer and instructor feedback

6. Deliverables & Outputs

Participants will receive:

• A Digital Currency Policy Toolkit (frameworks, templates, datasets)

• CBDC design and risk‑assessment tools

• Regulatory and legal‑framework templates

• Capstone project report and presentation

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