US intelligence is looking at Chinese CBDC as a national security threat
The Director of National Intelligence wants to have the SEC's leader briefed on the dangers of the U.S. falling behind in crypto. The U.S. national security apparatus is warning other agencies about China's coming digital currency. On Wednesday, news outlet the Washington Examiner reported on a letter that National Intelligence Director John Ratcliffe had send Securities and Exchange Commission Chairman Jay Clayton earlier in the month.According to the report, Ratcliffe offered to have staff brief Clayton on the security issues that derive from China's dominance in crypto mining as well as....
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The U.S. and the world benefit from the primacy of the U.S. dollar in the world economy, but it is stablecoin, not a CBDC, that will enhance the fiat’s place, according to Waller. A United States central bank digital currency (CBDC) would not enhance the qualities of the U.S. fiat dollar that foreign companies value most, U.S. Federal Reserve Board governor Christopher Waller in a speech released Oct. 14. CBDC skeptic Waller took a look at the question through the lens of national security at a symposium held at Harvard University. Waller had a more favorable view of dollar-backed....
Crypto is just the tip of the iceberg, experts tell a U.S. House Financial Service subcommittee in testimony on payment systems and national security. Non-crypto alternative payment systems pose a serious threat to United States security, according to testimony presented at a U.S. House Financial Services Committee Subcommittee on National Security, International Development, and Monetary Policy hearing Tuesday. The alternative payments ecosystem should be seen as a whole, and crypto can enhance national security, speakers said. Wilson Center fellow Scott Dueweke told the U.S. House....
The chief of the Government Communications Headquarters (GCHQ), one of the big three intelligence agencies in the U.K., has raised concerns regarding China and its digital renminbi. Sir Jeremy Fleming stated that the already existent Chinese CBDC could be used to collect information from users and, hypothetically, to control and filter global transactions.
UK Worried About Chinese CBDC Advancements
The chief of the Government Communications Headquarters (GCHQ), one of the biggest intelligence agencies in the U.K., has warned of possible negative effects on global transactions....
Chinese intelligence officials allegedly bribed a double-agent with the FBI to steal information related to an active criminal investigation against a global company.
Shenzhen residents are all set to receive digital Yuan worth $2.29 million as part of the Central Bank Digital Currency (CBDC) testing. The Chinese government will be giving these 15 million Yuan in CBDC to 130,000 residents. This CBDC will be eligible to be used at over 5,000 stores with no such minimum purchase required. […]