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Chinese payment services will be next target of Trump sanctions
08.10.2021 [21:03],
Vladimir Fetisov

US President Donald Trump’s administration is considering imposing restrictions on Chinese fintech companies Ant Group and Tencent, according to online sources. The reason for this is the fear of the US authorities that Chinese digital payment platforms could threaten US national security.

Image: Bloomberg

The source says the US authorities are concerned that Ant Group and other Chinese fintech platforms could dominate the global digital payments market. This is supposed to allow China to gain access to the banking and personal data of hundreds of millions of people. The issue was reportedly raised at a meeting of senior officials at the White House on September 30.

No final decision has been made on this issue as officials seek to find a legally sound approach. Also, there is nothing to indicate that the idea of ​​imposing any restrictions on the mentioned Chinese companies was brought to the American president, whose approval would be necessary. The source notes that Donald Trump fell ill with coronavirus the day after the meeting at which this issue was discussed, so this topic has not yet been continued.

Ant Group said in a statement that the company is unaware of any possible restrictions from the US government. Representatives of Tencent, the press service of the White House, the Treasury and the US Department of State declined to comment on the matter.

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