China plans to carry out the trial of its Digital Currency Electronic Payment [DCEP] or digital Yuan in 2022 during the Winter Olympics. In fact, according to People’s Bank of China [PBoC] Governor Fan YiFei, it would be the next key trial for the digital currency, with the same expected to help the country continue to increase the scope of this trial.
While China prepares for the incoming sea of Olympic participants, the United States of America is not very thrilled with its citizens going to China and using their digital currency. As per reports, Republican senators Marsha Blackburn, Roger Wicker, and Cynthia Lummis recently urged the U.S. Olympic committee to forbid American athletes from using China’s digital currency citing espionage and data-security concerns.
The lawmakers wrote to the board chair of the U.S Olympic Committee Susanne Lyons and said,
“Olympic athletes should be aware that the digital yuan may be used to surveil Chinese citizens and those visiting China on an unprecedented scale, with the hopes that they will maintain digital yuan wallets on their smartphones and continue to use it upon return.”