Republican senators are demanding that China block US app stores, including Apple and Google, from hosting apps that allow payments with digital currency, amid fears that the payment system could allow Beijing Americans to spy on them.
The bill, unveiled Thursday and first reported by Reuters, states that companies that own or control app stores “do not carry or support any app”. [their] App Store (s) in the United States that support or enable transactions on e-CNY. “Sponsored by Senators Tom Cotton, Marco Rubio and Mike Braun.
According to the Cotton Office, the digital yuan can “provide real-time visibility to all transactions on the network, causing privacy and security issues for Americans joining the network.”
The Center for a New American Security, Washington, DC-based Think Tank, January 2021 report states that China’s digital currency and electronic payment system could “become a boon to CCP surveillance and government intervention in the economy. The lives of Chinese citizens, transactions and their financial activities.” Have accurate data about. “
The move comes after WeChat, China’s Tencent-owned messaging and payment application with more than 1.2 billion users, announced earlier this year that it would begin supporting the currency. Alipay, the most popular payment app owned by Jack Ma Ant Group, also accepts digital currency. Both apps are available on the Apple and Google App Stores.
Apple, Alphabet Google, Ant Group and Tencent did not respond to requests for comment.
The Chinese embassy in Washington described the law as “another example of the United States arbitrarily threatening foreign companies by abusing state power in an ineffective arena of national security.”
Although stopping potential national security threats to China is a rare feature of a bilateral agreement in a deeply divided US Congress, the chances of the bill being passed before the midterm elections are uncertain.
© Thomson Reuters 2022