U.S. bill would bar Google, Apple from hosting apps that accept China’s digital yuan -Breaking
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© Reuters. FILEPHOTO: A silhouette of a user of mobile phones is seen beside a screen showing the Apple logo. This picture illustration was taken on March 28, 2018. REUTERS/Dado Ruvic/Illustration2/6
WASHINGTON (Reuters] – Republican Senators are seeking to block U.S. App Stores, Apple and Google, that permit payments using China’s digital currency. The proposal was seen by Reuters amid worries the Chinese payment system may allow Beijing spying on Americans.
On Thursday, Senators Tom Cotton and Marco Rubio will unveil a bill that states companies who own or control app store “shall no carry or support any apps in.” [their]App store(s), located in the United States, that allows transactions in eCNY
Cotton’s office stated that digital yuan may give the Chinese government “real-time visibility” into transactions over the network. This could pose privacy and security risks for American citizens who sign up to the network.
Washington D.C.-based think tank the Center for a New American Security stated in a January 2021 Report that China’s electronic currency and payments system were “likely” to benefit the CCP in surveillance of the Chinese economy and government intervention in the lives Chinese citizens. It also noted that transactions will include precise information about the users as well as their financial activities.
Apple Inc (NASDAQ :), Alphabet [NASDAQ :] Inc’s Google and Ant Group, Tencent, as well as the Chinese embassy in Washington, did not immediately respond to our request for comment.
After WeChat (a messaging and payments app owned by China’s Tencent) announced that the cryptocurrency would be supported earlier this year, Alipay, Jack Ma’s Ant Group-owned payments app, accepts digital currency. Both are available on the Apple App Store and Google App Store.
Despite China being a potential threat to the national security of America, there is no guarantee that the bill will be passed before midterm elections.
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