Posts Tagged ‘CCP DIgital Yuan’

A group of US legislators wants new norms and guidelines for dealing with the Chinese Communist Party (CCP) central bank’s digital yuan, Moscow’s top trading partner and closet strategic partner, as Russia is battered by a slew of sanctions from around the world. According to a March 10 news release from Sen. Marsha Blackburn (R-Tenn.), one of the bill’s sponsors, “if left uncontrolled, technologies like China’s Digital Yuan could empower Russia to dodge global sanctions on networks like SWIFT and enable the CCP to further spy and threaten their populace.” The bill [S.3784] is intended at controlling US policies relating to China’s central bank digital currency (CBDC) in response to fears that it could collect personal data and aid Russia in circumventing sanctions. It has the support of eight Republican lawmakers. If the bill is passed, the Secretary of Commerce…