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The Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) at the 2023 International Monetary Fund (IMF) Spring Meetings. The press release implies that their Universal Monetary Unit (UMU) algorithmic stablecoin has the IMF's blessing, including quoting IMF Financial Counselor Tobias Adrian from a November 2022 speech that implies nothing about DCMA engagement. Also,  the following quote from the DCMA's legal counsel appears designed to mislead:  "although the IMF has not officially endorsed UMU, in reviewing the DCMA's whitepaper and in weekly team discussions, the IMF has yet to state any objections to UMU's FX premium rates and its monetary sovereignty approach."

The Digital Currency Monetary Authority (DCMA) has innovated a best-in-class design for CBDC leveraging a digital economic union. This paper outlines the blueprint for a best-in-class CBDC design and discusses how a digital economic union and an international CBDC could complement and strengthen the international monetary system. Several sovereign states have collaborated with the DCMA on a Model Law for an international CBDC, or money commodity, and have provided draft legislation for such outlined in Appendix 1.