A
An encrypted database used exclusively for inter-bank foreign exchange settlements.
B
A legal tender issued by a central bank in digital form.
C
A decentralized private cryptocurrency traded on global exchanges without sovereign backing.
D
A loyalty reward token issued by commercial banks for digital transactions.
Correct answer: (b) A legal tender issued by a central bank in digital form.
Explanation
Option B correctly defines CBDC as a legal tender issued by a central bank in digital form. Options A, C, and D are incorrect as CBDC is a sovereign central bank liability, not a private crypto, loyalty token, or mere encrypted database.
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