Controversial whistleblower Edward Snowden has denounced central bank digital currencies (CBDCs) as a “perversion” and “cryptofascist” as these would lead to less power to the people and more authority for governments, CryptoPotato reported.
- Snowden said CBDCs are a “perversion of cryptocurrency” or a “cryptofascist currency,” as these are contrary to the founding principles of the digital space. These exist as an entry in a bank’s database and not a digital dollar.
- Snowden said rolling out CBDCs would bring governments at the center of every transaction, leaving the general population with less ownership of money, and therefore less freedom.
- The whistleblower earlier used Bitcoin in paying for the servers he used to transfer classified documents from the National Security Agency to journalists, but earlier in March criticized it for financial privacy issues.
Snowden last week expressed optimism on Bitcoin, as he said the Chinese crackdown only boosted the digital token. BTC is up 4.14%.