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US Senators Tom Cotton, Marco Rubio and Mike Brown want to ban applications that support the execution of transactions in digital yuan issued by the People’s Bank of China.
Congressmen have developed an executive order according to which app stores operating in the United States will be required to remove programs that allow you to transfer the digital currency of the Chinese central bank. In particular, this measure will affect Google Play and the App Store.
The digital yuan gives the Chinese government access to track all transactions in real time. This fact jeopardizes the confidentiality and security of personal data of Americans who use the network, “said employees of Cotton’s office.
Tom Cotton
Recently, the WeChat messenger with the function of performing money transfers and the Alipay payment application announced their plans to integrate the digital yuan before the end of 2022. Both programs are presented in Google Play and the App Store, so if the law is adopted, then these platforms will be forced to remove Chinese software.
Officials’ fears for the safety of personal information of users of the digital yuan are based on a report by the Center for a New American Security, published in 2021. The document states that the CBDC opens up unique opportunities for mass surveillance of citizens and interference in their personal lives due to the fact that the record of each transaction contains information about the participants in the money transfer and their financial activities.
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