The Republican senators – Mike Braun, Tom Cotton, and Marco Rubio – introduced draft legislation focused on the Chinese digital yuan. The lawmakers are against the financial product and believe it should be banned on American soil.
China’s CBDC Should Stay Away From the US
The e-CNY – a centralized digital currency issued by the People’s Republic of China – has stirred the waters between the world’s two leading economies. Last summer, US politicians – Marsha Blackburn, Roger Wicker, and Cynthia Lummis – advised American athletes not to use the product during the 2022 Beijing Winter Olympics, citing espionage concerns.
Shortly after, the Foreign Ministry of China struck back, urging their US colleagues to “stop making trouble” out of the digital yuan. Zhao Lijian – a spokesman of the Ministry – went further, claiming that America has no idea what digital currency is.
Recently the three Republicans – Mike Braun, Tom Cotton, and Marco Rubio – reiterated the U
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