HKMA issues discussion paper on retail CBDC issues

The Hong Kong Monetary Authority (HKMA) has launched a discussion paper to gather views on the key issues surrounding a retail central bank digital currency (CBDC).

According to CoinDesk, the city’s de facto central banks paper – e-HKD: A policy and design perspective – focuses on the policy and design issues related to a digital Hong Kong dollar.

The HKMA is currently studying the issuance mechanism, interoperability with other payment systems, privacy and data protection.

The authority has previously studied the technical aspects of CBDC issuance, with it publishing the findings last October. The paper that resulted from the study studied potential architectures and design options for the construction of an e-HKD infrastructure.

Elsewhere in the CBDC space, the European Commission recently issued a ‘call for ideas’ to help inform rule makers around the legislative roadblocks of a digital euro.

The Bank of England also recently teamed up with the Massachusetts Institute of Technology (MIT) for a 12-month research project around CBDCs.

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