Republicans want to keep the digital yuan out of American apps

Republican senators from Arkansas, Florida and Indiana have introduced legislation that would prevent Apple and Google from distributing apps that accept China’s digital yuan as payment.

That Defending Americans from Authoritarian Digital Currencies Act(Opens in a new window) (DAADCA) is simple enough: it bans software distributors from accepting payments via the digital yuan, also known as e-CNY, or allowing third-party apps that support payments via the currency on their platforms.

“The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it,” Senator Tom Cotton (R-AR) said. said(Opens in a new window) in an opinion. “We cannot give China this chance — the United States should reject China’s attempt to undermine our economy at its most fundamental level.”

Cotton will be joined by Senators Marco Rubio (R-FL) and Mike Braun (R-IN) in presenting this bill.

Reuters Remarks(Opens in a new window) that a think tank called The Center for a New American Security warned in January that e-CNY was “likely a boon to the CCP’s surveillance of the economy and government interference in the lives of Chinese citizens.” became more and more popular(Opens in a new window).

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DAADCA Explicitly Blocks Apple, Google and Other Software Vendors from Supporting Apps Accepting Payments via e-CNY Within the US; The bill does not prohibit companies from dealing with the digital yuan outside of their home country.

However, it’s unclear why Republican senators felt the need to introduce this law, even though American companies are in no hurry to roll out e-CNY in their apps.

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