On October 14, the Hong Kong Monetary Authority (HKMA) released its Conclusions Paper regarding the public consultation on renaming “Virtual Bank” to “Digital Bank.” The consultation garnered 26 submissions, with broad support for the new name from various stakeholders. The HKMA plans to update its guidelines to reflect this change soon, and the full Conclusions Paper can be accessed on the HKMA website.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/10/20241014-3/
