Digital Currency Statement from Hong Kong!

on the one hand cryptocurrencies While continuing to develop, the work of CBDC, the central bank digital currency, continues at full speed.

CBDC Although China leads the way, the central banks of other countries also carry out CBDC studies.

In this context, the last move on CBDC is a special administrative region of China. Hong Kongcame from

According to local news outlet South China Morning Post, Hong Kong Monetary Authority (HKMA), It plans to begin CBDC trials in the fourth quarter of this year.

The report states that Hong Kong’s central bank will conduct a series of pilots, as a result of which it will explore use cases and design issues for CBDC.

The central bank “e-HKD” To support the development of the CBDC named CBDC, besides its technological foundations, it is also working on its legal foundations.

The Hong Kong Monetary Authority said in a statement:

“Overall, respondents support the e-HKD initiative and believe that e-HKD has the potential to make payments more effective while supporting the digital economy.

Respondents also noted the need to further explore topics such as privacy protection, legal considerations, and use cases.”

Although Hong Kong is a region of China, the “One Country, Two Systems” strategy is applied in its administration. In this context, Hong Kong has its own financial and judicial system separate from mainland China.

As known Chinesehas 260 million individual users as of January 2022 e-CNY He is leading CBDC studies with his CBDC named CBDC.

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