Republican Senators Want to Ban Apple and Google from Hosting Apps
Three Republican senators have submitted a bill to ban Apple, Google, and other app store providers from hosting apps that accept Chinese digital Stablecoin as payment.
The bill, dubbed "Protecting Americans from Prestigious Digital Currency Law," is endorsed by Florida Senator Marco Rubio, former presidential candidate Marco Rubio, Arkansas senator Tom Cotton, and Indiana senator Mike Braun.
The digital yuan is the central bank digital currency (CBDC), fixed to the Chinese yuan and issued by the central bank of China. It has already been used in at least 15 cities since it was launched at the 2022 Beijing Winter Olympics.
This isn't the primary time American lawmakers have attempted to modify the virtual yuan. In March, US senators Bill Cassidy and Marsha Blackburn proposed the Say No To Silk Road Act, which could require a few authorities organizations to file at the CBDC. According to three senators, the bill is necessary to keep China from surveilling Americans' financial activities.