A new bill is passed in the US Senate that will stop Apple and Google from accepting currency in The Chinese Yuan. The decision was taken by keeping security and privacy threats in focus. The decision was put forward by Republicans who claimed that they are taking these measures to make sure China isn't spying on Americans. The bill says that any app that uses China's digital currency for payments should ban this from their platforms. Google and Apple are the most important and worth mentioning here. Both of them have millions of users and the concerns of the American government may not be true, but they did it to ensure the safety of all their users.
Immediately after the bill was passed, it was announced that companies who own or control app stores should ban any of the apps that allow transactions through e-CNY. According to the people who presented the bill, digital transactions can give transparent details of Americans who will use these apps.
It was said by an American Thinktank earlier this year that letting an option for Chinese Yuan in the transaction apps can seriously interfere with American Users' transaction history and their financial stability. The bill presenters said that it's all for Chinese surveillance because recently a Chinese App called We Chat has added an option for Chinese Currency this year. It's important to mention that this app has more than 1.2 billion users so it was a threat as it was available in Google Play Store as well as Apple App Store. A popular payment app, Alipay also plays a huge part in digital transactions in Yuan so the American government had to look into it too.
The Chinese Embassy took some action against this and said that America is only using their state power to push back any international interference in its country. They also said that America saying that Chinese companies are a security threat to them is straight-up bullying and an attempt to push back any international companies.
America is getting ready for the midterm elections and the take of Congress on this matter is still about to come. Needless to say, America is only using its power to control another big power in this world. We just have to wait and see what actions China is going to take against America after this.
H/T: Reuters
Read next: iPhone's production is down to 20M - shows zero growth since 2021
Immediately after the bill was passed, it was announced that companies who own or control app stores should ban any of the apps that allow transactions through e-CNY. According to the people who presented the bill, digital transactions can give transparent details of Americans who will use these apps.
It was said by an American Thinktank earlier this year that letting an option for Chinese Yuan in the transaction apps can seriously interfere with American Users' transaction history and their financial stability. The bill presenters said that it's all for Chinese surveillance because recently a Chinese App called We Chat has added an option for Chinese Currency this year. It's important to mention that this app has more than 1.2 billion users so it was a threat as it was available in Google Play Store as well as Apple App Store. A popular payment app, Alipay also plays a huge part in digital transactions in Yuan so the American government had to look into it too.
The Chinese Embassy took some action against this and said that America is only using their state power to push back any international interference in its country. They also said that America saying that Chinese companies are a security threat to them is straight-up bullying and an attempt to push back any international companies.
America is getting ready for the midterm elections and the take of Congress on this matter is still about to come. Needless to say, America is only using its power to control another big power in this world. We just have to wait and see what actions China is going to take against America after this.
H/T: Reuters
Read next: iPhone's production is down to 20M - shows zero growth since 2021