With China on its way to developing a digitized central bank currency and the ease with which new cryptocurrencies are created today, we may now be entering a new era of national digital currencies.
But is the United States prepared for this new era? In this episode, we will discuss the motivations as well as the security and economic implications of China’s push towards digitizing the Renminbi. We will also examine how the U.S. should react in order to protect its economic advantage and continue to track and prevent illicit financial flows.
Yaya J. Fanusie is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). His research focuses on the national security implications of cryptocurrencies and blockchain technology. Yaya spent seven years as both an economic and counterterrorism analyst in the CIA, where he regularly briefed federal law enforcement, U.S. military personnel, and White House-level policy makers—including President George W. Bush whom he personally briefed on terrorism threats. In 2009, he spent three months in Afghanistan providing analytic support to senior military officials.
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