China’s Digital Currency Is a Surveillance Tool Threatening US: Former US Representative

Beijing’s new digital currency is a tool that could prop up authoritarian regimes around the world, including China, and the Chinese paperless money could also undermine U.S. leadership in finance, warned a global finance professional. “This is a surveillance tool and it’s disguised as a payment mechanism. It’s going to allow the People’s Bank of China (PBOC), their central bank to look into, peer into everyone’s purchasing history,” said Erik Bethel, who once served as the U.S. representative to the World Bank. Bethel sounded the warning during a recent interview on EpochTV’s “American Thought Leaders” program. The Chinese regime is making the currency—known as digital yuan, digital renminbi, and e-CYN—available to foreigners for the first time during the 2022 Winter Games, as athletes and visitors can use the money either through a physical card or via a mobile app that can be downloaded at China’s domestic app stores. Since the …

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