China Calls on Washington Not to Politicize Winter Olympics Over Digital Yuan
Main page News, US, China, CBDC, Regulations

Chinese Foreign Ministry spokesman Zhao Lijian has called on US senators to "abide by the spirit stipulated in the Olympic Charter" and stop making sports a "political matter," the South China Morning Post reports. During a press conference with reporters, Lijian suggested Washington politicians to figure out "what a digital currency really is."

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

As iHodl earlier reported, three Senators asked the United States Olympic & Paralympic Committee to forbid American athletes from receiving or using China's digital yuan during the Beijing Olympics in 2022. Particularly, Marsha Blackburn, Roger Wicker and Cynthia Lummis warned that China's digital currency is "entirely controlled" by the People's Bank of China (PBOC), and can be tracked and traced by it.

China's Central Bank: Bitcoin and Stablecoins Pose Threat to Financial System

In June, several reports claimed that Beijing wants to pilot its digital currency during the 2022 Beijing Winter Olympics. The Senators claim the integration of China's digital currency into global commerce has "many problematic privacy implications" as China has been actively using new technologies to suppress the Uyghur minority, the people of Hong Kong, and those across China who "strive for freedom of expression" over the past few years. The Senators emphasize that the Chinese authorities are using digital payment platforms such as WeChat to "surveil, threaten, and arrest Chinese citizens."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error