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.
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.— Edward Snowden (@Snowden) October 9, 2021
If someone else gets to decide *if* and *how* you can spend it, is it really yours?https://t.co/720SYvqzZM
The article stated that national cryptocurrencies could be used to control citizens’ money. This information is from community 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”.