{"id":453599,"date":"2022-05-27T12:06:09","date_gmt":"2022-05-27T09:06:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/draft-bill-to-ban-chinas-digital-yuan-from-us-app-stores\/"},"modified":"2022-05-27T12:06:09","modified_gmt":"2022-05-27T09:06:09","slug":"draft-bill-to-ban-chinas-digital-yuan-from-us-app-stores","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/draft-bill-to-ban-chinas-digital-yuan-from-us-app-stores\/","title":{"rendered":"# Draft bill to ban China\u2019s digital yuan from US app stores"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a261ecd27662\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a261ecd27662\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/draft-bill-to-ban-chinas-digital-yuan-from-us-app-stores\/#%E2%80%9D_Draft_bill_to_ban_Chinas_digital_yuan_from_US_app_stores_%E2%80%9C\" >&#8221; Draft bill to ban China\u2019s digital yuan from US app stores &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Draft_bill_to_ban_Chinas_digital_yuan_from_US_app_stores_%E2%80%9C\"><\/span>&#8221; Draft bill to ban China\u2019s digital yuan from US app stores &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZTk5MGQ5NjktNTljYS00MjMxLWJkMjgtNjIzMmVjNWU1MDdjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Lawmakers in the United States are moving to protect the country from the potential undesirable impacts of the global adoption of China\u2019s national digital currency.<\/p>\n<p>Three \u200b\u200bRepublican senators, Tom Cotton, Mike Braun and Marco Rubio,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/senate-bill\/4313?s=1&amp;r=3\">introduced<\/a> a bill\u00a0on May 25, aiming to limit the use of China\u2019s central bank digital currency (CBDC) in the United States.<\/p>\n<p>The bill is referred to as \u201cDefending Americans from Authoritarian Digital Currencies Act\u201d and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cotton.senate.gov\/imo\/media\/doc\/ecny_bill.pdf\">proposes<\/a> to prohibit the use of China\u2019s digital currency payment system, e-CNY, for U.S. <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> stores and other purposes.<\/p>\n<p>The term \u201capp store\u201d covers all publicly accessible websites, software apps or other electronic services distributing apps from third-party developers to users of computers, mobile devices or any other \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>-purpose computing device,\u201d the senators noted.<\/p>\n<p>According to the bill, app and software distributors in the U.S. shall not support or enable transactions in e-CNY or support any app that features such transactions in the country.<\/p>\n<p>The senators reasoned that banning China\u2019s digital yuan in the U.S. would help the nation avoid \u201cdirect control\u201d and surveillance of users\u2019 financial activity.<\/p>\n<p>Cotton, a known proponent of the U.S. digital dollar project, specifically\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cotton.senate.gov\/news\/press-releases\/cotton-braun-rubio-introduce-bill-to-limit-use-of-chinese-digital-currency-in-the-us\">argued<\/a> that a CBDC could be used to spy on the financial activity of people, stating:<\/p>\n<blockquote><p>\u201cThe Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can\u2019t give China that chance \u2014 the United States should reject China\u2019s attempt to undermine our economy at its most basic level.\u201d<\/p><\/blockquote>\n<p>\u201cWe cannot allow this authoritarian regime to use their state-controlled digital currency as an instrument to infiltrate our economy and the private information of American citizens,\u201d senator Braun said. \u201cThis is a major financial and surveillance risk that the United States cannot afford to make,\u201d Rubio stated.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Brainard tells House committee about potential role of CBDC, future of stablecoins<\/em><\/strong><\/p>\n<p>China is one of the world\u2019s first countries to pilot its own digital currency, launching its first digital yuan trials in April 2019. Following multiple internal tests, the Chinese government has been actively promoting cross-border implementations of the digital yuan, working with central banks of Hong Kong, Singapore and others.<\/p>\n<p>U.S. authorities have been historically looking at the Chinese CBDC as a national security threat. In March, another bill also proposed to limit the use of China\u2019s digital yuan as it may be used to circumvent sanctions and compromise users&#8217; personal information.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/draft-bill-to-ban-china-s-digital-yuan-from-us-app-stores\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Draft bill to ban China\u2019s digital yuan from US app stores &#8220; Lawmakers in the United States are moving to protect the country from the potential undesirable impacts of the global adoption of China\u2019s national digital currency. Three \u200b\u200bRepublican senators, Tom Cotton, Mike Braun and Marco Rubio,\u00a0introduced a bill\u00a0on May 25, aiming to limit&#8230;<\/p>\n","protected":false},"author":1,"featured_media":453600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZTk5MGQ5NjktNTljYS00MjMxLWJkMjgtNjIzMmVjNWU1MDdjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75571,75046,75022,89665,76153,75057,117,4973,70934,67874],"class_list":["post-453599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-applications","tag-cbdc","tag-central-bank","tag-digital-dollar","tag-dollar","tag-yuan","tag-business","tag-china","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=453599"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/453600"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=453599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=453599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=453599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}