US Proposes to Ban Apple & Google from Accepting Digital Yuan

According to foreign media reports, on May 26, local time, U.S. Republican Senators Tom Cotton, Marco Rubio and Mike Brown announced a bill that wants to ban app stores, including Apple and Google, from accepting CCP’s digital yuan payment program for U.S. applications due to concerns that the payment system could be used by CCP authorities to spy on Americans.

Cotton’s office said the digital yuan payment system could provide the CCP with real-time information about all transactions on the network, raising privacy and security concerns for Americans who join the network. In addition, a report released by the American think tank “Center for A New American Security” in January 2021 showed that the CCP’s digital currency and electronic payment system could facilitate the CCP’s monitoring of the economy and facilitate government intervention in the lives of domestic citizens. The report also pointed out, the data collected by the system contains information about users, and accurate data on their financial activities.

While it is still uncertain whether the bill will pass before the US midterm elections, it is gaining to increase recognition in the United States for preventing potential national security threats related to the CCP.

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Translator: MOS Translation Team: Su T.
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