China’s Digital Yuan is reported to be the ultimate financial censorship tool

posted 9 months ago
In a new report released yesterday by the Center for a New American Security (CNAS), evidence of a 2018 PowerPoint presentation in China indicates what many may already have suspected - central bank digital currency is being designed to allow for surveillance of all financial transactions throughout its society.

“By eliminating some of the previous constraints on government data collection of private citizens’ transactions, DCEP represents a significant risk to the long-held standards of financial privacy upheld in free societies,” states the report titled ‘China’s Digital Currency: Adding Financial Data to Digital Authoritarianism’.
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