Draft bill to ban China’s digital yuan from US app stores
Three Republican senators introduced a bill to protect Americans from the "Authoritarian Digital Currencies Act." Lawmakers in the United States are moving to protect the country from the potential undesirable impacts of the global adoption of China’s national digital currency.Three Republican senators, Tom Cotton, Mike Braun and Marco Rubio, introduced a bill on May 25, aiming to limit the use of China’s central bank digital currency (CBDC) in the United States.The bill is referred to as “Defending Americans from Authoritarian Digital Currencies Act” and proposes to prohibit the use....
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The new draft law legitimizes digital yuan and may criminalize the issuance of yuan-backed stablecoins by third parties China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan. The draft law states that the yuan is the official currency of the People's Republic of China whether in physical or digital form.The draft law also appears to take aim at third-party efforts at yuan-backed digital currencies, stating that individuals....
Senator Andrew Bragg on Monday released a draft bill aimed at regulating crypto exchanges, stablecoins, and the digital yuan. Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan.In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that the parliament drives law reform” on the matter.The new draft bill, titled Digital Assets (Market Regulation) Bill 2022,....
China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country.
Digital Yuan Wallet App Now Downloadable From iOS and Android App Stores
China’s central bank, the People’s Bank of China (PBOC), has released a pilot version of its central bank digital currency (CBDC) wallet application.
Developed by the PBOC Digital Currency Research Institute, the wallet app for e-CNY, also known as....
Three Republican senators are pushing to prohibit portals from allowing apps that facilitate payments of China’s digital yuan out of concern that it could be used for espionage against American citizens. The proposed “Defending Americans from Authoritarian Digital Currencies Act” would outlaw the use of China’s e-CNY for app stores and other uses in the […]
"This bill holds China accountable as they introduce their new digital currency,” said Senator Bill Cassidy. Nine Republican senators have backed legislation aimed at directing the policy of U.S. government agencies around concerns that China’s digital yuan may be used to circumvent sanctions and compromise users' personal information.In a Wednesday announcement, Louisiana Senator Bill Cassidy and Tennessee Senator Marsha Blackburn, backed by seven other Republican senators, proposed the Say No To the Silk Road Act — a bill that would require certain government agencies to report on....