Hong Kong: Announced trial on Central Bank Digital Currency cybersecurity
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Description
Announced trial on Central Bank Digital Currency cybersecurity
On 16 June 2022, the Hong Kong Monetary Authority (HKMA), the Bank of Israel and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre, announced a collaboration to test the cybersecurity of a two-tier retail Central Bank Digital Currency (CBDC). The project will focus on data security in a two-tier retail CBDC architecture where the intermediaries have no financial exposure and is expected to be completed by the end of 2022.
Original sourceScope
Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
bi- or plurilateral agreement
Government Branch
executive
Government Body
other regulatory body