December 14, 2021
2 mins read

MI6 warns against use of Chinese digital currency

He also criticised the Chinese government over the illegal use of British data to export secret data from the UK to Bejing and called it a “data trap”…reports Asian Lite News.

Nearly two days after the Chinese artificial intelligence start-up SenseTime was sanctioned by the US, another setback came for the Chinese digital currency Renminbi.

Citing the British Intelligence Agency (MI6), Singapore Post reported that the secret agent warned the people over the use of Chinese digital currency Renminbi just before the winter Olympics. The warning from the UK intelligence came days after the Chinese government announced their planning of promoting the Renminbi as a global currency.

According to MI6– which is tasked mainly with the covert overseas collection and analysis of human intelligence in support of the UK’s national security–, the Chinese government vigorously promoted the currency to keep an eye on users. The intelligence agency red-flagged the use of digital currency and added it might turn out to be a matter of “national threat”. According to MI6, the Chinese Communist government may use the currency “as a tool” before the most “touted” and “controversial” winter Olympics which is scheduled for February next year.

While elaborating the possible threats, Jeremy Fleming, the Director of the Government Communications Headquarters (GCHQ) of the British Intelligence Agency, told Singapore Post that the new digital currencies have a good future and has a good response globally but added the Chinese technological development brought additional threats for the users.

Further, he warned that the new digital currency will export large amounts of British data to China. According to him, the data include work, shopping, social and travel information. It is important to note that this was not the first time when the British secret agency has warned about the ill-intention of the Chinese government behind promoting the digital currency.

https://www.youtube.com/watch?v=72L03LBK68g

In the first week of December this year, the Director of MI6, Richard Moore red-flagged a similar warning for the users. He also criticised the Chinese government over the illegal use of British data to export secret data from the UK to Bejing and called it a “data trap”.

Earlier, three US Republican Senators urged the US Olympic Organizing Committee to ban US athletes from using China’s new digital currency during the Beijing Winter Olympics.

ALSO READ-Seductive crypto ads leave Indian investors in dilemma

Previous Story

Central Bank considers Emiratisation of banking, insurance professions

Next Story

MBR tours pavilions of Central African Republic and Kyrgyzstan

Latest from -Top News

India opens world’s highest rail bridge

Prime Minister Narendra Modi inaugurated the world’s highest railway bridge over the Chenab River in Jammu and Kashmir and flagged off the much-awaited Vande Bharat Express to Srinagar, marking a historic moment

Sisi, MBZ cement ties

UAE and Egypt bolster ties through high-level talks in Abu Dhabi and a landmark cardiac care initiative delivering lifesaving treatment to rural communities The United Arab Emirates and Egypt reaffirmed their strong

‘UAE leads global fight against plastic waste’

UAE accelerates its fight against plastic pollution with a bold single-use plastic ban and expanded environmental policies to safeguard natural ecosystems for future generations The United Arab Emirates continues to lead the

70,000 Gaza kids starve

WFP warned that any further escalation of conflict could paralyse relief operations altogether, deepening the plight of civilians—especially children, the elderly, and vulnerable groups As the humanitarian crisis in Gaza intensifies, the

Prayers on the Mount

The Day of Arafat, considered the pinnacle of the Hajj pilgrimage, witnessed a congregation of believers from around the world As the sun blazed overhead and temperatures climbed to a sweltering 41°C,
Go toTop

Don't Miss

Chinese hackers target govt agencies globally

The researchers tagged TA428, a Chinese-speaking APT group, behind the

Japan seeks strong EU military involvement in Indo-Pacific

Recently, tensions between China and Japan have escalated amid increased