Snowden said about the dangers of national cryptocurrencies

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

The article stated that national cryptocurrencies could be used to control citizens’ money. 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”.

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