2 years ago
Led by Bill Cassidy (R-Louisiana) and Marsha Blackburn (R-Tenn.), 9 Republican Senators person introduced a measure aimed astatine mounting regulations and guidelines concerning the integer yuan.
“If near unchecked, technologies including China’s Digital Yuan volition empower Russia to evade planetary sanctions connected systems specified arsenic SWIFT and alteration the CCP to further surveil and endanger their citizens,” said Senator Blackburn in a property release. “This measure holds China accountable arsenic they present their caller integer currency,” said Senator Cassidy.
The Say No To the Silk Road Act would - among different things - necessitate the State Department to contented a informing connected the integer yuan, necessitate the Secretary of Commerce to study connected commercialized enforcement actions, and necessitate that immoderate overseas authorities that receives fiscal assistance done the U.S. subject disclose if they usage the integer yuan successful either a colony oregon reserve currency capacity.
Seven different Republican senators – Ted Cruz (R-Texas), Cynthia Lummis (R-Wyo.), Mike Braun (R-Indiana), Rick Scott (R-Florida), Cindy Hyde-Smith (R-Miss.) and Tommy Tuberville (R-Ala.) – person already signed on.
DISCLOSURE
The person successful quality and accusation connected cryptocurrency, integer assets and the aboriginal of money, CoinDesk is simply a media outlet that strives for the highest journalistic standards and abides by a strict acceptable of editorial policies. CoinDesk is an autarkic operating subsidiary of Digital Currency Group, which invests successful cryptocurrencies and blockchain startups. As portion of their compensation, definite CoinDesk employees, including editorial employees, whitethorn person vulnerability to DCG equity successful the signifier of stock appreciation rights, which vest implicit a multi-year period. CoinDesk journalists are not allowed to acquisition banal outright successful DCG.
Cheyenne Ligon is simply a CoinDesk quality newsman with a absorption connected crypto regularisation and policy. She has nary important crypto holdings.
Subscribe to Money Reimagined, our newsletter connected fiscal disruption.
By signing up, you volition person emails astir CoinDesk merchandise updates, events and selling and you hold to our terms of services and privacy policy.
English (US) 