![]() ![]() It added the data collection “would permit China to track the locations of federal employees and contractors, and build dossiers of personal information.” Trump’s order says “by accessing personal electronic devices such as smartphones, tablets, and computers, Chinese connected software applications can access and capture vast swaths of information from users, including sensitive personally identifiable information and private information.” 20 when Trump leaves office to identify prohibited transactions. official told Reuters that even though the order gave the Commerce Department 45 days to act the department plans to act before Jan. The order signed by Trump also names CamScanner, SHAREit, Tencent QQ, VMate and WPS Office and says “the United States must take aggressive action against those who develop or control Chinese connected software applications to protect our national security.”Ī U.S. Tencent spokeswoman did not immediately comment. The move is aimed at curbing the threat to Americans posed by Chinese software applications, which have large user bases and access to sensitive data, a senior official told Reuters.Ī U.S. The order, first reported by Reuters, tasks the Commerce Department with defining which transactions will be banned under the directive and targets Tencent Holdings Ltd’s QQ Wallet and WeChat Pay as well. President Donald Trump on Tuesday signed an executive order banning transactions with eight Chinese software applications, including Ant Group’s Alipay, the White House said, escalating tensions with Beijing before President-elect Joe Biden takes office this month. While Tencent has avoided Ant Group's high-profile brushes with the CCP, China's much-anticipated central bank digital currency may well be an effort to muscle in on the business of the country's impressive fintech sector.WASHINGTON (Reuters) -U.S. Xi Jinping is said to have personally put the clampdown on Ant Group's aborted initial public offering, since which time Alibaba's stock has slipped and the founder of both, Jack Ma, has disappeared.Īnother giant of Chinese tech, Tencent, owns three of the entities targeted by Trump's order: QQ Wallet, Tencent QQ and WeChat Pay. Ant Group, the fintech affiliate of Alibaba that owns AliPay, recently fell afoul of the Chinese government. While the barriers between the private and public sectors are murkier, China's treatment of the private companies that Trump is targeting is already pretty bad. regulators concerned about their operations when they made those arguments, somewhat deflating the effect of their patriotism. While the situation between the two countries is obviously tense, both Facebook and Ripple were seeing serious investigations by U.S. Many in crypto as well as the broader tech industry have warned of a cold war in technology between China and the U.S., including Facebook's Mark Zuckerberg and several leaders of Ripple Labs. ![]() national security apparatus have definitely indicated concern over China's payments systems, particularly a central bank digital currency with a database accessible by the CCP. The focus on payment apps is particularly significant. Given that his earlier order to get ByteDance to divest from TikTok was stonewalled in court while he was still in office, there's not a ton of reason to believe that Trump will get his way here. The executive order takes effect in 45 days, by which time Trump will already be out of office. The apps targeted are AliPay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay and WPS Office. Yesterday's order repeats earlier concerns of data collection by the Chinese Communist Party: "The continuing activity of the PRC and the CCP to steal or otherwise obtain United States persons’ data makes clear that there is an intent to use bulk data collection to advance China’s economic and national security agenda." market from Chinese-owned apps like TikTok. It continues the White House's earlier efforts to cut off the U.S. The Tuesday order bars United States citizens or people located in the U.S. With just two weeks left in office, President Donald Trump has sent out a new executive order targeting Chinese payment apps. The trade war with China homes in on the country's thriving digital payments industry.
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