US politicians want China’s digital yuan to be banned from use in US-based app stores.
American politicians Mike Braun, Tom Cotton and Marco Rubio introduced a bill on China’s CBDC. Politicians say the use of digital yuan should be banned on US soil.
The CBDC issued by the People’s Republic of China caused more tension in the relations between the two countries. Last summer, US politicians Marsha Blackburn, Roger Wicker and Cynthia Lummis advised US athletes not to use a CBDC during the 2022 Beijing Winter Olympics, citing spying concerns.
Following this statement, China’s Ministry of Foreign Affairs urged its US colleagues to “stop making trouble”. Ministry spokesman Zhao Lijian said that the United States does not have the slightest idea what a digital currency is.
Three Republican lawmakers Mike Braun, Tom Cotton and Marco Rubio have introduced a bill aimed at banning the use of China’s CBDC in US-based app stores. The law must be approved by the Senate, House and President Biden before it can go into effect.
Cotton said the move is urgent because China can use digital money to control and spy on everyone.
“We can’t give China this chance. The US should reject China’s attempt to undermine our economy”
Senator Rubio also said:
There is no point in tying ourselves up. This is a huge financial and surveillance risk that the United States cannot afford.”
