Three U.S. Senators have urged the United States Olympic and Paralympic Committees to ban American athletes from receiving or using digital yuan during the Beijing Olympics. They raised many concerns, including privacy, and warned, “Olympic athletes should be aware that the digital yuan can be used to monitor Chinese citizens and visitors to China on an unprecedented scale.”
US senators raise concerns about China’s digital yuan
Three U.S. Senators wrote a letter to Susanne Lyons, chairwoman of the United States Olympic and Paralympic Committee (USOPC), Monday, raising concerns about the digital yuan.
Senators Marsha Blackburn, Roger Wicker and Cynthia Lummis wrote, “We are writing to express our concern about the Chinese Communist government’s plans to make electronic payment with digital currency, commonly known as the digital yuan, ahead of the Beijing Winter Olympics To be officially introduced in 2022. “They made it clear:
In particular, we urge the United States Olympic and Paralympic Committee (USOPC) to ban American athletes from receiving or using digital yuan during the Beijing Olympics.
The digital yuan, the People’s Bank of China’s (PBOC) digital central bank currency (CBDC), “is fully controlled by the PBOC and can be tracked and tracked by the central bank,” the senators said.
The Chinese government is testing and giving away the digital yuan in various cities and companies have already started accepting it as a means of payment. The digital yuan whitepaper was also recently unveiled.
The senators noted that “the Chinese Communist Party insists that its efforts be aimed at digitizing banknotes and coins.” However, they warned, “Olympic athletes should be aware that the digital yuan can be used to monitor Chinese citizens and visitors to China on an unprecedented scale in the hope that they will keep and continue to use digital yuan wallets on their smartphones Return.”
The letter also says:
The integration of China’s digital currency into global trade has many problematic privacy implications … These concerns are not hypothetical. Rather, digital payment platforms such as Wechat are already being used to monitor, threaten and arrest Chinese citizens.
The senators asked the USOPC to work with the US State Department, the US Treasury Department, and the US Department of Commerce “to protect the privacy of American athletes from the Chinese Communist government.” They also asked the members of the Senate Committee on Commerce, Science, and Transportation for a briefing on this application within 30 days of receiving this letter.
In response to the senators’ action, Chinese Foreign Ministry spokesman Zhao Lijian told reporters in Beijing on Tuesday that it revealed their ignorance. “We suggest that they find out what a digital currency really is,” he was quoted as saying. “US politicians should stick to the spirit of the Olympic Charter, stop making sport a political issue and stop getting the digital currency in China into trouble.”
Do you think American athletes should be banned from receiving and using digital yuan? Let us know in the comment section below.
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