Bill prohibits interactions with China’s digital currency

The senses. Americans Marco Rubio (R-FL), Tom Cotton (R-AR) and Mike Braun (R-IN) recently introduced the Defense of Americans Against Overbearing Digital Currencies Act, which seeks to ban domestic app platforms from to use the Chinese communist motto. Party’s digital yuan (e-CNY) or hosting apps that allow e-CNY transactions.

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“It makes no sense to tie us to the digital currency of a genocidal regime that hates us and wants to replace us on the world stage,” Rubio said. “This is a major financial and supervisory risk that the United States cannot afford.”

Cotton said the Chinese Communist Party would use its digital currency to control and spy on anyone using it.

“We cannot give China that chance – the United States should reject China’s attempt to undermine our economy at its most basic level,” he said.

According to Braun, the Chinese Communist Party’s digital yuan allows direct control and access to individuals’ financial lives.

“We cannot allow this authoritarian regime to use its state-controlled digital currency as an instrument to infiltrate our economy and the private information of American citizens,” Braun said.