Shanghai Man: US senators tell athletes to avoid digital yuan, Chinese exchan...
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.Olympic battleAfter months of writing about the relentless actions of the Chinese government, this week we lead with a story from the US Government. On July 19, three US senators signed a letter addressed to the to U.S. Olympic and Paralympic Committee, requesting US athletes not use the e-CNY in Februarys Winter Olympic games in Beijing. The logic was that the....
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Three U.S. senators have urged the United States Olympic & Paralympic Committee to forbid American athletes from receiving or using digital yuan during the Beijing Olympics. Raising many concerns, including privacy, they warned, “Olympic athletes should be aware that the digital yuan may be used to surveil Chinese citizens and those visiting China on an unprecedented scale.” US Senators Raise Concerns About China’s Digital Yuan Three U.S. senators wrote a letter to Susanne Lyons, the chairman of the board of the United States Olympic & Paralympic Committee (USOPC), Monday....
Three senators urged the Olympic committee to work with federal agencies "to protect the privacy of American athletes from the Chinese Communist Government." Three United States senators have signed a letter urging Olympic officials to forbid American athletes from using the digital yuan during the 2022 Beijing Winter Games.In a Monday letter to U.S. Olympic and Paralympic Committee board chair Susanne Lyons, Republican senators Marsha Blackburn, Roger Wicker and Cynthia Lummis requested officials prevent U.S. athletes from using or accepting digital yuan, given their allegation that it....
China's Foreign Ministry responded to U.S. senators' claim regarding the digital yuan's function as a tracking and tracing tool during the 2022 Beijing Winter Games. The heat is rising between the United States lawmakers and Chinese officials even before the Olympic flame ignited at the 2022 Beijing Winter Games. During a press briefing on Tuesday, Chinese Foreign Ministry spokesman Zhao Lijian addressed U.S. senators’ warning letter to the U.S. Olympic and Paralympic Committee regarding the use of digital yuan at the Olympic games next year. Calling for the U.S. politicians to “abide by....
Following the interview with Ma Changchun, the head of the People’s Bank of China-run Digital Currency Research Institute, a recent report indicates that residents from Beijing and Shanghai can now apply for a digital yuan wallet. According to the report, six different Chinese banks will participate in the process. Beijing and Shanghai Residents Can Apply to Test the Digital Yuan Wallet A recent report published by China’s Securities Times, explains that residents from China are now able to apply for the digital yuan wallet. The wallet is compatible with the People’s Bank....
The Bank of Communications and China Construction Bank conducted digital yuan trials at two major department stores in Shanghai. Shanghai’s New World City and New World Daimaru Department Store, and food caterer Taikang Food Store handled thousands of digital yuan transactions over the past weekend, Shanghai Daily reports.As part of the trial, the retailers featured digital yuan payments as part of a sales campaign in conjunction with International Women’s Day. Brand director of Shanghai New World Li Wei said that the firm reached out to commercial banks to offer discounts as part of the....