U.S. broadcasts diplomatic boycott of Beijing Winter Olympics over human rights abuses

The US announced a diplomatic boycott of the 2022 Winter Olympics in Beijing on Monday, a move that had received non-partisan support from critics of China’s human rights record.

While US athletes will continue to compete, President Joe Biden’s administration will not send an official representation to the Games in China amid “the ongoing genocide and crimes against humanity in Xinjiang and other human rights abuses”, White House press secretary Jen said Psaki, told reporters.

Psaki was referring to China’s reported treatment of Uighur Muslims in this northwest area, known as genocide from both Biden and former President Donald Trump’s administration.

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“The Team USA athletes have our full support. We will be 100 percent behind them if we cheer them on from home. We will not be contributing to the fanfare of the Games,” said Psaki.

“The US diplomatic or official mission would be faced with these games [People’s Republic of China’s] egregious human rights violations and atrocities in Xinjiang, and we just can’t do that, “she said.

“We will continue to take action to advance human rights in China and beyond,” she said.

The expected move was preventively criticized on Monday by the spokesman for the Chinese Foreign Ministry, Zhao Lijian. “It is a travesty of the Olympic spirit, it is a political provocation and an insult to the 1.4 billion Chinese,” he said, according to a translation of his remarks.

“If the US insists on going the wrong way, China will take necessary and decisive countermeasures,” said Zhao.

The Chinese government under President Xi Jinping has been condemned by dozens of countries for its actions in Xinjiang and its crackdown on pro-democratic protesters in Hong Kong in 2019 and 2020.

More recently, Beijing has come under fire after having disappeared for weeks Tennis star Peng Shuaiwho disappeared after publicly accusing a former Chinese Communist Party senior official of sexual assault.

The women’s tennis association announced last week it will suspend tournaments in China immediately due to concerns about the treatment and safety of Peng and other players.

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics holds the U.S. broadcast rights to all Summer and Winter Games through 2032.

Cryptocurrencies are ‘humorous cash,’ that ‘mirrors’ Wall Road abuses, says Senate Banking Chairman

Senior Democrats in Congress again cabled their skepticism about cryptocurrencies and digital asset technology on Tuesday when Ohio chairman Sherrod Brown said the growing digital asset economy told a Senate banking committee that “Americans’ hard-earned money is at risk “. Tuesday listen.

“Alongside these alternative financial products, a home industry with decentralized financial systems has emerged in the hope of creating a parallel financial system with no rules, no supervision, and no borders,” said Brown. ”They claim to enable ‘transparency’. Your supporters speak of the ‘democratization of banking’, but there is nothing ‘democratic’ or ‘transparent’ about a seedy, diffuse web of funny online money.

Brown also attacked the notion that the growing crypto economy would prove to be an alternative for Americans who are skeptical of the power and practices of Wall Street financial institutions.

“People don’t trust banks, and they don’t trust the biggest banks especially,” Brown said. “But as these technologies evolve, most seem to reflect the Wall Street model – rather than question it.”

The Senate Banking Committee hearing coincided with a House Financial Services Subcommittee hearing on central bank digital currencies, underscoring Congress’s commitment to research and potential regulation of digital assets in general.

Also on Tuesday morning, Democratic Senator Elizabeth Warren from Massachusetts sent a letter To Treasury Secretary Janet Yellen in her capacity as Chair of the Financial Stability Oversight Council, calling on the FSOC to rapidly develop a “comprehensive regulatory system for cryptocurrencies”.