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31 July 2021

U.S. Senators Want American Athletes Banned From Using China’s e-CNY During Beijing Olympics

U.S. Senators Want American Athletes Banned From Using China’s e-CNY During Beijing Olympics


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Senators are clamoring for a ban on the use of China’s upcoming central bank digital currency (CBDC) for American athletes at the forthcoming Beijing Winter Olympics in 2022. .

“Olympic athletes should be aware that the digital yuan may be used to surveil Chinese citizens and those visiting China on an unprecedented scale, with the hopes that they will maintain digital yuan wallets on their smartphones and continue to use it upon return.”.

Following the accelerated trials of the digital yuan, there have been concerns that the Chinese CBDC would be a monitoring tool.

Federal Reserve Chair said back in April that China’s CBDC would not work in the United States, as it could be used by Chinese authorities to monitor transactions in real-time

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