Hong Kong taps HSBC, Visa firms for CBDC trials
The Hong Kong Monetary Authority’s pilot will explore six categories of use cases, including offline payments, tokenized deposits, and settlement of Web3 transactions.
Latest Hong Kong Monetary Authority News
Hong Kong regulators warn incoming firms against ‘light touch’ approach
Despite being seen as having a "friendly" stance toward VASPs, Hong Kong reiterates it would push for stringent but "reasonable" rules to ensure the safe growth of the industry.
Hong Kong urges banks to offer services to digital asset firms
The Hong Kong Monetary Authority reiterated that it had not placed any bans on Bitcoin banking and urged banks to play nice with VASPs, amid rising interest in Bitcoin from top banks.
Former HKMA chief leads Hong Kong’s new Web3 institute
Norman Chan, former head of the Hong Kong Monetary Authority, will head the new body while China Mobile International CEO Li Feng will serve as honorary chairperson.
Is Hong Kong opening up to digital assets?
Many may see Hong Kong's latest regulation as a welcoming to digital asset exchanges, but the stringent requirements for licenses and compliance seem to tell otherwise.
Hong Kong Monetary Authority skeptical against algorithmic stablecoins
In the "Conclusion of Discussion Paper on Crypto-assets and Stablecoins," HKMA confirmed that it received 58 submissions, urging it to adopt a "risk-based approach" towards regulating stablecoins.
Hong Kong central bank governor optimistic on virtual currency; South Korean counterpart fazed by FTX implosion
Eddie Yue of the HKMA says reducing risks associated with digital assets can be achieved by regulating off-chain activities, while BOK's Rhee is skeptical of whether these assets truly have benefits.
Hong Kong reveals new CBDC design in collaboration with BIS Innovation Hub
Project Aurum highlighted a technological stack to explore the viability of wholesale and retail CBDCs, utilizing two different tokens—intermediated CBDCs and CBDC-backed stablecoins.
Hong Kong launches trials for more suitable use cases for e-HKD: report
Eddie Yue, head of the HKMA, noted that the trials would involve commercial banks and are scheduled to begin sometime in the fourth quarter.
HKMA: Hong Kong inches toward launching wholesale CBDC
The HKMA has not yet issued a time frame, but experts believe that a full launch could take up to two years due to the amendments the legislature will have to make to give the CBDC legal backing.
Bank for International Settlements, Hong Kong central bank tap distributed ledger tech to raise SME funding
The Hong Kong Monetary Authority and the Bank for International Settlements seek to leverage the benefits of decentralized finance and blockchain while simultaneously boosting funding for SMEs.
Israel central bank teams up with Hong Kong to test retail digital currency
Bank of Israel partnered with the Hong Kong Monetary Authority and the Bank for International Settlements to test the feasibility of a digital shekel for retail use.