Abstract: With the help of liquidity risk theory, explain the tension between the strong liquidity of the strong connectivity response of data and the liquidity risk of the data leakage response, effectively complement the “scenario risk” theory, which focuses on specific regulatory ideas and ignores the logic implication of the high-level abstract concept. It specifically refers to the judgment of cross-border data controllers on the possibility and uncertainty of damage caused by data flow patterns, the positive correlation between liquidity and risk, and the risk bearing model. On this basis, the construction of cross-border data disclosure notification system is the normative logic of the integration of data disclosure notification system and data cross-border protection rules, realizing the effective balance value of data security and cross-border free flow, technology expansion and rule restriction, rule protection and regulatory restriction. Try to build targeted rules for notification of cross-border data leakage, clarify the regulatory linkage and multilateral cooperation of cross-border data leakage notification, help form a systematic framework for cross-border data leakage protection, and effectively realize the practical logic of data security assurance.