Is digital currency the only mess !! Lamenting Central Bank !!

The central bank of Hong Kong, China’s specialty city, announced last year that it would launch a digital currency. The Hong Kong Monetary Authority (HKMA) has been testing the digital currency (CBDC) since 2017.

Last year in Hong Kong, the much-anticipated launch of the digital currency by its central bank in Hong Kong went unfulfilled for a number of political reasons.

Following this, the Hong Kong Monetary Authority (HKMA) has published a discussion article on the digital currency (CBDC) to be issued by the Hong Kong Central Bank. The article is referred to as e-HKD by the Hong Kong Monetary Authority.

This article focuses on the policy and design issues of the CBDC but also raises the question of whether it is necessary to provide the CBDC first, and states that HKMA struggles to find any strong justification other than innovation.

At the same time, the article warns of market risks posed by crypto staple coins. The Hong Kong Monetary Authority has announced that the central bank is considering issuing its own digital currency, as cryptocurrencies are more likely to outperform.

It also said that people should read the published article and share their views on digital currency so that people have a clearer understanding of it.

At the same time, the Central Bank of Hong Kong has announced that it will soon be interested in launching its own digital currency if the public’s desire and opinion is in favor of the digital currency.