The United States Olympic and Paralympic Committee should ban athletes from using the digital yuan (DCEP) during the Winter Olympics in Beijing. This was stated by Republican Senators Marsha Blackburn, Cynthia Lummis, and Roger Wicker.
In a letter to the president of the organization Susanne Lyons, they expressed concern about plans by Chinese authorities to allow the use of DCEP at the Games in February 2022.
“Athletes should consider that the digital yuan could be used to surveil PRC citizens and guests in unprecedented ways […]. The integration of China’s digital currency into global commerce has serious privacy implications,” the politicians noted.
In their view, the authorities in Beijing expect that users who have wallets for the DCEP will continue to use them after returning home. This would allow Beijing to monitor the United States, the senators say.
Earlier, Kyle Bass, founder of Hayman Capital Management, described the DCEP as a “digital Trojan horse”. He urged the United States to ban the use of the instrument, allowing that China could use it to pressure rival countries.
In early July, Chengdu, the capital of Sichuan province, tested the DCEP with restricted use cases. Previously, the ability to pay with the asset was rolled out in Beijing and Suzhou.
The People’s Bank of China published the white paper on the digital yuan. According to the document, the e-CNY (the official name) supports smart contracts and is a programmable instrument.
Letter to OSOPC on Digital Yuan 0719 by ForkLog on Scribd
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