Hong Kong Monetary Authority Invites Views on Retail CBDC

The authority is studying design considerations such as issuance, interoperability with other payment systems, privacy and data protection.

AccessTimeIconApr 27, 2022 at 11:28 a.m. UTC
Updated May 11, 2023 at 6:28 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The Hong Kong Monetary Authority (HKMA) has issued a discussion paper inviting views on the key issues around a retail central bank digital currency (CBDC).

  • The city's de facto central bank's "e-HKD: A policy and design perspective" paper focuses on the policy and design issues related to a digital Hong Kong dollar.
  • The authority is studying the issuance mechanism, interoperability with other payment systems, privacy and data protection.
  • The HKMA has previously studied the technical aspects of issuing a CBDC, the findings of which were published in October. The resulting paper studied potential architectures and design options as it relates to the construction of the infrastructure for distributing an e-HKD.
  • Along with the HKMA, the central banks of almost every major economy worldwide are studying or developing CBDCs, in part as a means of future-proofing their currencies from potential threats posed by increased use of privately issued digital currencies.
  • China is leading the way with its digital yuan - or eCNY - which had 260 million individual users as of January.
  • Hong Kong maintains its own financial and judicial systems, separately from the Chinese mainland as part of the “One Country, Two Systems” framework under which Hong Kong is governed.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about