US authorities warn against using digital yuan at the Olympics
A Pennsylvania senator claims that the widespread distribution of Chinese CBDC threatens the interests of the States
05.02.2022 - 08:40
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What’s new? According to a Reuters report, Pennsylvania US Senator Pat Toomey has sent a letter to the Secretary of State and the Treasury Secretary expressing concern that the Chinese government could use the Olympics to increase the adoption of the digital yuan. Also, Minnesota representative Tom Emmer is urging US athletes not to use China’s CBDC.
How do US politicians counter the digital yuan? Toomey stated that the spread of the digital yuan to the international community could “set a standard in cross-border payments,” potentially threatening US interests. He also asked the State and Treasury ministries to report on the number of foreign visitors using the Chinese digital yuan to explore its possibilities. Toomey stated:
“The importance of remaining a leader in the global digital economy and supporting new innovations like digital currencies is a significant domain of strategic competition with other countries, including China.”
The US Olympic Committee reportedly suggested that team members not use their smartphones in China because they “could be infected with malicious software.”
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