China strives to prevent XRPadoption in the US, Reaper Financial CEO RealReaperCEO claims $XRP Ripple
Does China care about XRP?
China has been working on its own central bank digital currency, CBDC, digital yuan. It has been working on it for several years and doubled its efforts when Facebook began its attempts to create a stablecoin backed by a basket of most popular fiat currencies in 2019-2020. Facebook's project was put away to a distant shelf, while the Chinese one has been tested with real users and their wallets already.
Back in 2019, there was a lot of talk on crypto Twitter by influencers, such as Anthony Pompliano, that the U.S. should launch digital USD as soon as possible. They believed that if China launches their CBDC before the U.S., China will surpass the U.S. in the forming sphere of digital finance globally.
The Fed Reserve then began looking into creating what was called a"FedCoin." However, some in the crypto community criticized the idea of the U.S. creating a CBDC. Among them was the famous whistle-blower Edward Snowden.Many on crypto Twitter also shared their concerns that by launching digital yuan, the Chinese government will tighten its control over the population's personal finance, earnings and spending and were worried that the same may happen in the U.S.
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