Republican lawmakers introduce bill targeting China's CBDC on sanctions, privacy
"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....
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U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digital Asset Sanctions Compliance Enhancement Act of 2022.” The bill “would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions,” an expert said. Lawmakers Unveil Digital Asset Sanctions Compliance Enhancement Act U.S. Senator Elizabeth Warren introduced a bill titled “Digital Asset Sanctions Compliance Enhancement Act of 2022” during a Senate Banking Committee hearing....
Yao Qian predicted that Web3 will reorganize the organizational form and business model of the Internet economy and offer a level playing field for all. The director of the Science and Technology Supervision Bureau of China’s Securities Regulatory Commission Yao Qian has called for a special focus on Web3, deeming it to be the future of the internet.Yao published an article titled "Web 3.0: A New Generation of Internet that is Approaching," talking about the significance of the evolving tech and how the world is at a crucial transition from Web2 to Web3.The article talked about the....
Four U.S. senators are introducing a bill to place sanctions on Russia’s gold. “This legislation would deter the purchase of Russian gold and close this loophole that allows the Russian Federation to soften the financial impact of sanctions,” the senators explained. “By sanctioning these reserves, we can further isolate Russia from the world’s economy and increase the difficulty of Putin’s increasingly-costly military campaign.”
US Lawmakers Seek to Sanction Russia’s Gold
U.S. Senators John Cornyn (R-TX), Maggie Hassan....
Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance,” said the senator who introduced the bill.
Defending Americans from Authoritarian Digital Currencies Act
U.S. Senator Tom Cotton (R-Arkansas) introduced the “Defending Americans from Authoritarian Digital Currencies....
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....