The Hong Kong Monetary Authority (HKMA) has released a report as part of its central bank digital currency (CBDC) studies.
As the crypto industry shifts to Asia, Hong Kong’s efforts towards the industry are in full swing. Hong Kong has started to take important steps on crypto money and CBDC.
Hong Kong, which approves crypto money trading and tries to provide regulatory clarity in this context, is also taking firm steps on CBDC. In a report released today, the HKMA signaled the importance of working with the digital Hong Kong dollar (e-HKD).
Hong Kong Takes Firm Steps for CBDC
The Hong Kong Monetary Authority (HKMA) has released a report on the central bank digital currency (CBDC). HKMA expressed hope for the digital Hong Kong dollar (e-HKD).
The HKMA underlined in the report that it does not mind that CBDCs appear insignificant in the current payment system and financial market. According to the report, the HKMA examines the uses for e-HKD and the rapid evolution in the digital economy.
It is aimed that the e-HKD, which has been piloted before, will emerge and be adopted quickly. In this context, HKMA plans to accelerate its pilot studies.
In its report published today, the HKMA announced that it will consider various factors in terms of policy and jurisdiction and focus on viable solutions regarding CBDC.
Hong Kong, one of the architects of the Asian frenzy in the crypto industry, is trying to step into every aspect of the digital economy.
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