A single crypto regulator to appear in the EU Hotels in Maldives and Thailand accept crypto payments PayPal added bitcoin support to its mobile app Corporations invested more than $6 billion in crypto industry in the last 10 months DeFi-platform Velodrome accuses crypto sleuth of stealing $350k S&P Global dropped Coinbase rating to a speculative level BitGo will seek $100 million for Galaxy Digital refusal to acquire crypto platform Brazilian crypto exchange blocked customer accounts and fired staff Celsius Network’s debts is more his assets for $2,8 billion

The U.S. keeps digital yuan out of the App Store and Google Play

The U.S. keeps digital yuan out of the App Store and Google Play

U.S. Republican senators call for a ban on digital yuan support by technology platforms.

Under the bill, Senators Tom Cotton, Mike Brown, and Marco Rubio propose to ban U.S. companies from hosting apps that could support the Chinese digital yuan on their marketplaces.

According to Cotton, Beijing is going to use digital currency “to control and spy on everyone who uses it.”

“We can't grant China that chance - the United States has to stop China's attempt to undermine our economy at the most basic level,” he added.

Mike Brown believes that the digital yuan allows China to control and access people’s financial lives directly:

“We cannot allow this autocratic regime to use its state-controlled digital currency as a tool to infiltrate our economy and personal information of American citizens.”

However, it remains unclear whether the bill will gain regulatory status since a group of senators has so far only submitted it to the U.S. Congress.

Related article: Chinese CryptoYuan origins

Subscribe to our Telegram channel for the most relevant, interesting, and informative news from the crypto industry.

Is there an error in the article?
To report