Yesterday, a letter from three United States senators raised concerns about China’s digital yuan. Republican senators Marsha Blackburn, Roger Wicker and Cynthia Lummis asked the U.S. Olympic and Paralympic Committee to consider preventing American athletes from using China’s digital yuan during the Beijing Winter Olympics in 2022.
China has been stepping up the pace of its central bank digital currency (CBDC) development, and last week published a whitepaper sharing further details about its design and issuance. Privacy was one of the points addressed.
The whitepaper says, “the e-CNY system collects less transaction information than traditional electronic payment and does not provide information to third parties or other government agencies unless stipulated otherwise in laws and regulations.”
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