Snowden said about the dangers of national cryptocurrencies

Former CIA agent Edward Snowden warned of the threat posed by national cryptocurrencies.

According to the former CIA official, national digital currencies do not adhere to the very essence of cryptocurrency because they deprive users of their ownership rights. In his article, Edward Snowden criticized national digital currencies (CBDC) and called them "the newest danger cresting the public horizon.

Most of your money exists not as something folded in your wallet, but as an entry in a bank’s database, faithfully requested and rendered beneath the glass of your phone.

If someone else gets to decide *if* and *how* you can spend it, is it really yours?https://t.co/720SYvqzZM
— Edward Snowden (@Snowden) October 9, 2021

The article stated that national cryptocurrencies could be used to control citizens’ money. This is an article from project cryptodefix.com. Snowden noted that the introduction of CBDCs is not related to government support for cryptocurrencies or the digitalization of finance because “most dollars are already digital, existing not as something folded in your wallet, but as an entry in a bank's database”.