US proposed banning apps that support digital yuan payments
According to senators, operations with e-CNY can give the Chinese government access to Americans’ confidential data
27.05.2022 - 13:25
564
2 min
0
What’s new? US senators have proposed banning applications that support digital yuan transactions. The bill was drafted by Republican Party members Tom Cotton, Marco Rubio, and Mike Braun. According to them, companies that have app stores, such as Apple or Google, should not host services where e-CNY payments are available. Officials believe that by using the nation’s digital currency, the Chinese authorities can gain access to Americans’ confidential data. This is reported by Reuters.
What events happened before? In March, Senators Bill Cassidy and Marsha Blackburn introduced the Say No To the SilkRoad Act, which aims to establish new regulations and guidelines on the digital yuan. The senators fear that e-CNY would enable the PRC authorities to collect users’ personal data.
On April 2, the People’s Bank of China launched the second phase of testing the digital yuan. The bank noted that the first phase of testing, which took place at the Winter Olympics, was successful and the scale of transactions and users continues to grow.
Since April 25, six Chinese cities in Zhejiang province began to test paying taxes using the digital yuan. Through e-CNY, residents in the province can pay income tax, property tax and make social security contributions. In addition, the government connected 72 toll road collection points to the test program.
In May, the Bank of Russia’s First Deputy Governor Olga Skorobogatova reported that the regulator plans to develop technological interaction with other countries through the faster payment system and the digital ruble. In addition, the bank sees opportunities to integrate the electronic ruble with foreign digital currencies such as the yuan.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$99 432
BTC
+2.54%
-
Ethereum
$3 375.46
ETH
+7.61%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.38
XRP
+23.9%
-
Dogecoin
$0.393475
DOGE
+2.17%
-
Cardano
$0.864724
ADA
+10.24%
-
Bitcoin Cash
$494.84
BCH
-5.96%
-
Polkadot
$6.12
DOT
+7.35%
-
Stellar XLM
$0.279698
XLM
+16.98%
-
Litecoin
$89.65
LTC
-0.38%