The Digital Currency "Armament Race" of Central Banks

The article is aimed at researching a phenomenon that is young in legal science — the Central Bank Digital Currencies (CBDC). The author analyzes the reports and concepts of digital currencies of individual jurisdictions, identifies trends in the use of digital securities and the need to transform legislation. Taking into account the doctrinal approaches existing in law and economics, the advantages and risks of using the CBDC are reflected. The author concludes that, taking into account the Western embargo, the CBDC is seen as an urgent and promising financial and legal mechanism for ensuring financial sovereignty and protecting national interests. Taking into account the domestic experience of piloting the digital ruble, as well as the experience of friendly member countries of the EAEU, SCO and BRICS, it seems that the future of the global financial architecture lies in the CBDC and supranational digital currencies of interstate associations.