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New Report Outlines Potential Dangers Of China's Digital Yuan Project, Makes Policy Recommendations For The United States
Summary: A recent report from the Center for New American Security (CNAS) has recommended security steps the United States should take in response to China's rapid development of a digital yuan. The report argues that the development of China's digital yuan could allow the Chinese Communist Party to strengthen its digital authoritarianism domestically and export its ...
A recent report from the Center for New American Security (CNAS) has recommended security steps the United States should take in response to China's rapid development of a digital yuan.
The report argues that the development of China's digital yuan could allow the Chinese Communist Party to strengthen its digital authoritarianism domestically and export its influence and standard-setting abroad. It added that China's development of a digital yuan, which could allow the government to track every transaction of its citizens, represents a significant risk to the standards of financial privacy upheld in free socities.
The report highlights concerns that the digital yuan would allow the Chinese Communist Party to users' financial behavior and information on anyone who transacts with them including, potentially, American citizens.
By Emily Mason
Tags: CBDC,Central Bank Digital Currency,Chinese Communist Party,Digital Yuan
Link: New Report Outlines Potential Dangers Of China's Digital Yuan Project, Makes Policy Recommendations For The United States [Copy]
