InstaForex

July 21, 2021

US Senator Instructs Athletes to Boycott Digital Yuan During 2022 Olympics!

 Three U.S. senators issued instructions to national sports teams to boycott the yuan digital currency during the 2022 Winter Olympics in Beijing next year.


In an official statement dated July 19, three senators from the Republican party: Marsha Blackburn, Cynthia Lummis and Roger Wicker explained the insistence was a follow -up to privacy concerns.


"We will not allow American athletes to be used as scapegoats in the Chinese Communist Party's efforts to spy on the country," Lummis said.


As is well known, China is intensifying efforts in marketing the use of the digital yuan.



After focusing on salary payments and LRT transportation in digital yuan, the country wants to take the opportunity to promote the digital yuan during the 2022 Winter Olympics, involving domestic consumers, visitors and teams of athletes from across the country.


"Olympic athletes should be aware that the digital yuan has the potential to be used as a spy tool for Chinese locals and visitors to the country, in the hope that they will keep digital wallets in smartphones and use them in their respective countries."


The statement was sent to the head of the Olympic Committee Board, Suzanne Lyons.


Earlier Hayman Capital Management founder Kyle Bass warned to block the digital yuan before it’s too late because of the asset’s potential to collapse the U.S. economy.