Trump Issues Ban on Chinese Payment Apps

Elvera Bartels

U.S. President Donald Trump has issued an govt get prohibiting transactions that use the well known Chinese payment app Alipay. Trump said the “pace and pervasiveness” of Chinese engineering offered a continuing danger to the U.S. nationwide security, foreign policy, and overall economy.

“The United States should consider aggressive motion towards people who establish or command Chinese linked program programs to secure our nationwide security,” the govt get said.

The get also bans transactions involving “persons that establish or control” the apps WeChat, QQ Wallet, SHAREit, CamScanner, Tencent QQ, VMate, and WPS Business office.

The get can take effect in forty five times. President-elect Joe Biden can take business on January twenty. It is unclear how the Biden administration will interpret or enforce the ban.

“The United States has assessed that a range of Chinese linked program programs mechanically capture vast swathes of information and facts from tens of millions of customers in the United States, which include delicate individually identifiable information and facts and non-public information and facts,” the get said.

The U.S. has accused China of involvement in a range of assaults in modern many years, which include a 2015 malware attack against the business of personnel administration that exposed the details of tens of millions of federal government staff, position applicants, and previous staff.

The Alipay ban comes as the New York Inventory Exchange introduced a collection of reversals around its choice to delist China Telecom, China Mobile, and China Unicom pursuing an govt get issued by President Trump in November.

The NYSE last 7 days introduced it would delist the firms in advance of reversing that choice on Monday pursuing pushback from the Chinese Securities Regulatory Commission. As of Wednesday, the trade said it would ban trading in the shares, citing new steering from the Treasury Department’s Business office of International Property Control.

Alipay is a sister firm of Jack Ma’s e-commerce huge Alibaba Team. Ma, reportedly, has not been seen in community given that Oct, when he publicly clashed with Chinese regulators around his designs to publicly record shares of Ant Team.

Alipay, China, President Trump

Next Post

AMC Still Needs $550M to Stay Afloat Through 2021, CEO Says

Adam Aron, CEO of the world’s biggest chain of theaters – AMC Entertainment Holdings, disclosed Tuesday that the company had raised $200 million in funding, but the proceeds were still $550 million short of the targeted $750 million threshold, reports CNBC. What Happened: The pandemic forced the theatre chain into […]