As American athletes prepare for the upcoming winter Olympics in Beijing, they have been warned not to receive digital Yuan. A lawmaker, Tom Emmer, posted the warning on his Twitter page. Yuan is the digital currency used by China.
Claims Of US Lawmakers
After the opening ceremony of the Beijing Olympics, which took place on the 4th of February, athletes are getting set for the kick-off.
Two members of the United States Congress have cited possible dangers that could occur if digital Yuan is used at the tournament.
As stated by Reuters, a letter was sent by Pat Toomey to Antony Blinken (US Secretary of State) and Janet Yellen (Secretary of Treasury) on Thursday. In the letter, the lawmaker called their attention to the possibility of China using the ongoing games to increase the usage of its digital currency. China has been working on the Yuan since 2020 and has announced to foreigners that Yuan can be used to buy things during the tournament.
Toomey believes that China’s plan of rolling out the currency to an International audience could increase usage and peg a standard that would threaten the interest of America. The US Reserve plans to release a digital currency but has yet to agree. The lawmaker representing Pennsylvania have asked the country’s Treasury and State Department to present a report on the foreign visitors using Yuan. The information presented will help officials working on a digital currency for the country.
According to Toomey, it is vital to remain a leader in the digital world and support innovative ideas as this is a form of strategic competition.
Apart from Toomey, another lawmaker representing Minnesota has referred to China as a digitally authoritarian state.
Decision Of The US Olympic Committee
Last year, in July, three members of the Senate, in a letter to the US committee in charge of the Olympics, informed the committee that China could use the Yuan to monitor foreigners during the game and after the tournament when they have traveled to their country. US Athletes were advised to go to the tournament with “burner” phones and not smartphones. This is to prevent their device from being tracked. As of the time of this report, pictures of recent activities can be seen on the team’s Instagram page.
China is using the Beijing Olympics to test its digital currency released two years ago. Since Yuan was launched, it has recorded transactions worth over $13 billion.