The Chinese Communist Party (CCP) may use digital currency to evade U.S. sanctions

According to a British spy chief, the Chinese Communist Party (CCP) is pursuing high-tech capabilities aimed at maintaining control over the Chinese people while using “digital currency” as a bulwark against Western economic sanctions in a crisis, offsetting Western military and economic advantages.

There is no doubt that the CCP is learning the lessons of Russia from the Russian invasion of Ukraine. The CCP believes that digital currency technology is no longer an area that offers opportunity, competition and cooperation, it has become a battleground for control, value and influence. The CCP’s drive to use the digital yuan seeks to create a centralized digital currency to control the Chinese people. The CCP has used all means to force Chinese citizens and businesses to use the digital RMB. There are apparent concerns that the technology could also be used to track individuals.

In August, the CCP conducted frequent retaliatory harassment against Taiwan in response to House Speaker Nancy Pelosi’s visit to Taipei. On Monday, October 10, Taiwanese President Tsai Ing-wen said at a National Day event for the Republic of China (Taiwan) that only by respecting the Taiwanese people’s commitment to their sovereignty, democracy and freedom can the foundation be laid for the resumption of constructive interactions across the Taiwan Strait.

In the foreseeable future, digital currency may also allow the CCP to partially circumvent the various international sanctions currently imposed by Western countries on Russia’s Putin regime.

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Translator: OXV Translation Team
Design&editor: HBamboo(昆仑竹)

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