“The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it,” senator Tom Cotton argued to promote a new bill to limit the use of China’s digital currency.
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.a bill on May 25, aiming to limit the use of China’s central bank digital currency in the United States.proposes
to prohibit the use of China’s digital currency payment system, e-CNY, for U.S. app stores and other purposes. The term “app store” covers all publicly accessible websites, software apps or other electronic services distributing apps from third-party developers to users of computers, mobile devices or any other “general-purpose computing device,” the senators noted.
According to the bill, app and software distributors in the U.S. shall not support or enable transactions in e-CNY or support any app that features such transactions in the country. The senators reasoned that banning China’s digital yuan in the U.S. would help the nation avoid “direct control” and surveillance of users’ financial activity.
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