Hong Kong: no plans for central bank digital currency

A high-level official has revealed that the Hong Kong Monetary Authority (HKMA) is not currently planning to issue a central bank digital currency (CBDC).

During a meeting of the Legislative Council in Hong Kong last week, Joseph Chan, Acting Secretary for Financial Services and the Treasury, said that the HKMA's research on the topic had led to the belief that a CBDC would be less useful in Hong Kong, compared to other jurisdictions.

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