The Hong Kong Monetary Authority is studying the establishment of a regulatory framework for digital dollars #CBDC of Hong Kong or #stablecoin

The Hong Kong Monetary Authority said it is studying establishing a regulatory framework for the digital Hong Kong dollar or stablecoin, and promoting the application of distributed ledger technology (DLT) in the industry for #tokenizar bank deposits.

Vice President Ruan Guoheng said there is no timetable for promoting deposit #tokenización and it will not be mandatory for all banks to follow suit. The relevant process will not be linked to the investigation into the digital Hong Kong dollar, and the two will be carried out in parallel. Chen Jinghong, Deputy Chairman of Banking Supervision, said he hopes#DLTtechnology will be more widely used in the future, such as reducing the transaction time of bond issuance to T+1; Cash tokenization and smart contracts can achieve instant settlement, reducing counterparty risk.