ADVERTISEMENT

China Hits out at Senators Who Asked for an Olympic Block on Digital Yuan

  • July 28, 2021
  • Tim Alper
  • 73

Beijing has lashed out at three Republican senators who have asked the United States Olympic & Paralympic Committee to block American athletes from using the digital yuan, the central bank digital currency (CBDC) that China is hoping to dazzle the world with at the 2022 Beijing Winter Olympics, to be held in the capital from February.

The group, which comprises Marsha Blackburn, Roger Wicker, and the “bitcoin (BTC) senator” Cynthia Lummis had expressed spying and data security worries.

In their letter, they wrote 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.”

But, per an official notice from the Chinese Foreign Ministry’s website, spokesperson Zhao Lijian hit out angrily at the senators when questioned on the subject by a Reuters reporter at a press conference. Zhao claimed that the letter “only reflected the politicians’ ignorance.”

He added a recommendation that the senators take the time to “learn what a digital currency actually is.”

Zhao stated that when it came to “espionage and digital security threats,” the United States “sets the global standard.” He explained:

“The United States not only monitors its competitors, but also even its allies through various means such as data theft and telephone tapping. Everyone knows these facts to be true.”

“Digital currencies are an inevitable product of the development of digital technology and conform to the current trends of global digital economic development. Chinese law also makes clear provisions to ensure the principles of data security,” the spokesperson continued.

And Zhao concluded that “American politicians should respect the spirit of the Olympic Charter, stop politicizing sport and refrain from talking about China’s forthcoming digital currency.”


Source: Cryptonews

Disclaimer

The views expressed in this article are the author's own and do not necessarily reflect the view of News-crypto. News-crypto shall not be held liable under any circumstances for any losses, damages or expenses arising from the use of any content mentioned in this article.

The information contained on this website is provided for informational purposes only, with no warranties, or guarantees made as to the accuracy, completeness or timeliness of it. News-crypto assumes no liability or responsibility for any errors or omissions in the information contained on this site. We strongly encourage you to conduct your own research before taking any action.

This site may contain copyrighted material, the use of which has not always been specifically authorized by the copyright owner. If you wish to use the copyrighted material from this site for the purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. Authors or publishers who claim ownership of copyrighted articles reprinted on this website and wish for the content to be removed may email us directly at news-crypto@gmail.com

If you would like to connect with us about any of the distributed content or other inquiries, please email us at news-crypto@gmail.com with the relevant documentation.


ADVERTISEMENT

IMG

×