US lawmakers issue warnings about digital yuan as Winter Olympics kicks off
"Do not accept any digital yuan," said Minnesota Representative Tom Emmer in a tweet aimed at Team USA athletes competing in China. With the opening ceremony of the Beijing 2022 Winter Olympics completed and all competing athletes currently in China, two members of Congress are warning of the potential dangers of using digital yuan at the events.According to a Friday report from Reuters, Pennsylvania Senator Pat Toomey sent a letter to Secretary of State Antony Blinken and Treasury Secretary Janet Yellen on Thursday expressing concern that the Chinese government could use the games to....
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The 2022 Winter Olympics in Beijing were the first time the entire world heard about China’s first official digital currency: the digital yuan. According to a Reuters report quoting officials from the People’s Bank of China (PBoC), the 2022 Winter Olympics participants, tourists, and organizers might be spending more than $300,000 everyday in China’s digital […]
China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top central bank official.Li Bo, deputy governor of the People’s Bank of China, said that the upcoming Winter Olympics could potentially become the first test of China’s central bank digital currency, or CBDC, by foreign users.“For the upcoming Beijing Winter Olympics, we were trying to make....
China debuted its homegrown digital yuan at the 2022 Beijing Winter Olympics on Friday last week, in an effort to assert its competency in the international community. However, it appears that some locals, foreign visitors, and officials are not completely impressed with the digital token. The digital CNY (e-CNY) was not widely used at the […]
Many of the National Stadium retailers allowing purchases with China’s CBDC were outside the Olympics' quarantine bubble for athletes, journalists, and staff. On the day of the opening ceremony of the Beijing 2022 Winter Olympics, there were reportedly more transactions made in China’s central bank digital currency than those through Visa.In a Wednesday report from the Wall Street Journal, a person familiar with the matter said transactions in digital yuan significantly outnumbered those of Visa on Feb. 4 at the Beijing National Stadium, also known as the Bird’s Nest — the location of the....
Bitcoin and nonfungible tokens are all over the Olympics this year while China’s CBDC is there too amid a controversial rollout. The 2022 Winter Olympics, officially called the XXIV Olympic Winter Games, kicked off on Feb. 4 in Beijing with crypto being a major part of the event, partly because of the Chinese government’s digital currency ambitions.The cryptocurrency community hasn’t had strong ties to the Olympics over the last few years. The last major headline-grabbing interaction was when the Dogecoin (DOGE) community helped fund the Jamaican bobsled team in 2014 so they could attend....