US explores restrictions on China's Ant Group and Tencent payment platforms

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US explores restrictions on China's Ant Group and Tencent payment platforms
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WASHINGTON (REUTERS) - The United States is considering restrictions on China's Ant Group as well as Tencent Holdings over concerns that their digital payment platforms threaten national security, Bloomberg News reported on Wednesday (Oct 7).. Read more at straitstimes.com.

WASHINGTON - The United States is considering restrictions on China's Ant Group as well as Tencent Holdings over concerns that their digital payment platforms threaten national security, Bloomberg News reported on Wednesday .

In the last year, the United States has cracked down on Huawei and TikTok after allowing the Chinese-owned firms to become major players in US telecommunications infrastructure and social media, respectively. US officials have expressed concerns that these firms could be passing on the information of US citizens to China's Communist Party government.

Talks over how and whether to restrict Ant Group and Tencent's payment systems have picked up pace among senior US officials in recent weeks, though a final decision is not imminent, Bloomberg reported, citing people familiar with the matter.

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