Apr 29, 2022 08:02 PM

Hong Kong Sounds Out Public on Digital Currency

The Hong Kong Monetary Authority (HKMA) is calling for public feedback on the policy and design issues surrounding a retail digital currency — the so-called e-HKD. It’s the latest step by city authorities seeking justification for creating a central bank digital currency (CBDC) for public use.

In a paper released on Wednesday, the city’s de facto central bank examined the benefits, challenges and use cases of the potential e-HKD. It also looked into design considerations such as the issuance mechanism, interoperability with other payment systems, privacy and data protection, as well as legal considerations. The paper is accepting public feedback until May 27.

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