TL;DR Breakdown
The 2022 Olympic Games are nearing, and political tensions between China and the US have begun.Senators from the United States have raised concerns regarding the usage of digital Yuan.Zhao Lijian addressed the letter from the United States, asking the Senators to learn more about digital currencies.
The Olympic Games 2022 will be the most prominent sports event in the world. Athletes from across the world will be looking to make their mark and make their countries proud. The games will be held in Beijing, and this has got US Senators worried.
According to a warning notice that was issued to Chinese authorities by the US Senators, they revealed their worries regarding the digital Yuan. According to US officials, digital Yuan could be used for espionage purposes by Chinese authorities.
Digital Yuan does not exist to spy on nations during Olympic 2022
According to the article presented in the South China Morning Post, the Chinese foreign ministry represented by Zhao Lijian is furious at the attacks on digital Yuan presented by the US Senators.
Zhao claims that the US authorities need not mix Olympic sports with digital Yuan and foreign politics. He also stated that their warning notice showed that they really lack knowledge of digital currencies, drawing unnecessary connections between espionage and the Yuan.
Usage of digital currencies in Olympics
Chinese authorities made it official that all visitors from foreign lands will be using the Yuan currency that will be in digital format on their smartphones. They won’t need to open a bank account with any Chinese bank and easily make payments. According to the stats revealed by the PBoC or People’s Bank of China, there are around 20.8 million users that have registered.
This high number of users rang bells for the Senators who claim that digital currencies can be used to track and spy on players and visitors from all over the world.
