Digital Yuan Ban: Senators Seek To Ban China’s E-CNY 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....

China’s central bank digital currency, the digital Yuan or e-CNY, is well on its way for full implementation. The People’s Bank of China (PBoC) release a Whitepaper with details on their CBDCs for the first time since the project was made public. As the document revealed, the digital Yuan is currently being tested after successfully […]

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....

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....

"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....