9 Republican senators have backed laws aimed toward directing the coverage of U.S. authorities businesses round considerations that China’s digital yuan could also be used to avoid sanctions and compromise customers’ private data.
In a Wednesday announcement, Louisiana Senator Invoice Cassidy and Tennessee Senator Marsha Blackburn, backed by seven different Republican senators, proposed the Say No To the Silk Highway Act — a invoice that may require sure authorities businesses to report on China’s central financial institution digital foreign money, or CBDC. The 2 senators mentioned that they had considerations over the digital surveillance and privateness of residents and international customers as a result of China’s rollout of its CBDC.
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