Legal Executives of USA are concerned about Digital Yuan: Report

Beijing Winter Olympics 2022 has just begun, and athletes from all over the world are participating in it. The USA is not an exception, but the legal experts are unsure of using Digital Yuan at the event. They think China might use this event to promote the usage of the Digital Yuan.

Furthermore, they think that this CBDC can threaten USA’s potential. Why? Because China claims this digital currency can facilitate cross-platform, and cross-border payments.

The USA has not yet reached a conclusive decision regarding the creation of a CBDC. They are eager to see how China’s CBDC pans out. Based on the information collected, the government can make decisions to maintain its position in the global economy.

The officials have sent their wishes to the entire team and have warned against using the currency. According to their assumptions, these coins can be attached to surveillance units, and even their smartphones can tamper.