The CBDC, according to Edward Snowden, is a “cryptofascist currency” designed to put governments at the center of every transaction.
Central Bank Digital Currency (CBDC) has been dubbed a "cryptofascist currency" by Edward Snowden, a former NSA contractor and whistleblower. It is primarily meant to deny individuals fundamental control of their money. In a tweet, Snowden stated that the CBDC will put the state at the center of every transaction, contradicting the virtual currency's basic ideas and procedures. The cryptocurrency was created as a decentralized currency that was independent of any single authority's control. It was created to take financial institutions like banks out of the trading and investing process.