Rand兰德：2025年美国中央银行数字货币设计选择及其对执法的影响研究报告（英文版）

The Federal Reserve’s exploration of a U.S. Central Bank Digital Currency (CBDC) raises questions about its impact on U.S. law enforcement’s ability to detect and investigate crime. This report, informed by expert interviews and a scenario-based workshop, identifies key CBDC design choices affecting law enforcement capabilities. It underscores the need to evolve investigative techniques to meet relevant challenges if a U.S. CBDC is launched.