With the development of Internet finance,a large number of digital currencies that rely on financial technology emerge as the times require.Seeing the great advantages of digital currency,the central bank of China issued the legal digital currency DCEP,and continuously invested in research and development to explore its feasibility as fiat currency issued by the state.DCEP,the digital currency of the central bank,not only changes the form of money,but also has a certain impact on the financial market,leading to changes in money demand,money supply and money multiplier.Fiat currency,an unprecedented financial innovation,is still facing risks and severe tests in technology,law and financial system.Therefore,these risks need to be improved and solved along with the further implementation of legal digital currency DCEP in China.
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