In a recent interview with Marta Belcher of Filecoin Foundation for Camp Ethereal 2022, Edward Snowden, discussed cryptocurrencies and how governments consider them an evolving threat.
The famous NSA whistleblower, also discussed how crypto transforms power relationships, privacy concerns on the blockchain and central bank digital currencies, which he referred to as “crypto-fascist currencies”.
“I think governments correctly perceive an evolving threat to traditional tools which they’ve grown accustomed to… In terms of an ability to impose regulation upon private lives, and more broadly, private trade.”
About this invasive U.S. financial system he added:
“When you think about the way the U.S. incredibly invasive financial network operates, with all of these anti-money laundering and know-your-customer impositions.
It is hard for me to believe that if they had the technical capacity to very easily get the serial number of every dollar bill that passes through their hands, that they do not.”
Snowden expressed his criticism of Bitcoin and other cryptocurrencies for similar reasons as to why he is critical of traditional finance. During this year’s Ethereal conference he had said:
“Ethereum suffers from the same sort of privacy problems as Bitcoin… [With Bitcoin] you get chain analysis people and whatnot who are doing fairly devious things with it such as “trying to get a financial edge out of the on-chain analysis.”
He also said:
“Bitcoin is not an anonymous ledger, it is a truly public ledger, and those things are always out there.”
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