American politicians want to limit China’s CBDC usage in US app stores
Recently the three Republicans – Mike Braun, Tom Cotton, and Marco Rubio – reiterated the US’ predominantly negative stance on the monetary product. They introduced a draft bill aimed at restricting the usage of China’s CBDC in American app stores.
The legislation, called “the Authoritarian Digital Currencies Act,” needs to be approved by Senate, House, and President Biden before becoming live. According to Cotton, the move is urgent since, otherwise, China could use its digital currency to “control and spy” on anyone who uses it.