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UK Spy Chief’s Fears Over China’s Digital Renminbi: FT

GCHQ head warns technology could allow Beijing to monitor users and exert control over global currency transactions


Three US Senators introduce legislation to ban apps that support the digital yuan, citing national security around the new fintech.
China’s digital renminbi is being heavily promoted. Photo: Reuters

 

Sir Jeremy Fleming, head of Britain’s electronic intelligence agency, said China was now the “biggest strategic issue” facing the UK, and was expanding its espionage operations and seeking control of digital infrastructure, The Financial Times reported.

China’s digital renminbi, which is being heavily promoted ahead of the Beijing winter Olympics, risks becoming a tool to surveil users and exert control over global currency transactions, the director of UK signals intelligence agency GCHQ has warned. Full story: The Financial Times

 

  • By Sean O’Meara

 

Read more:

Digital yuan set to ‘shake up’ China’s financial ecosystem

Could a digital yuan dethrone the mighty US dollar?

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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