The United States lawmakers give warnings on Digital Yuan as the Winter Olympics begins
A tweet issued by the representative of Minnesota, Tom Emmer, aimed at the USA Olympic team, stated not to accept the digital yuan as a currency.
The Beijing Winter Olympics have completed their opening ceremony, and all the participants from various countries are currently in China. But some of the lawmakers of the United States have expressed their concern stating the Republic of China will use these international sports events to promote their digital currency, which is the digital yuan.
The lawmakers further suggested that the initiation of digital yuan payments will make ways for cross-border transactions, which will go against the US interest. The Federal bank is also in the process of determining whether they want to release a digital dollar or not.
The group of lawmakers also suggested the athletes of their country not carry their original phones, but instead, they can use burner phones, fearing that malicious software can attack the phones while they are staying in the country.
Since the launch of China’s own CBDC (Central Bank Digital Currency), this is the first time international visitors will come in huge numbers. Therefore, it is a major testing ground for China’s CBDC.