Central bank digital currencies could turn "money" into a tool for government surveillance, said Paolo Ardoino, chief executive of Tether, the issuer of the world's largest stablecoin, USDT.
Speaking at TOKEN2049 in Singapore, Mr. Ardoino pointed out that governments see CBDCs as a progressive financial innovation, but in reality they could be used to control consumers rather than achieve so-called "financial inclusion".
CBDCs are digital forms issued and controlled by a country's central bank and based on the country's fiat currency. Unlike decentralized cryptocurrencies such as bitcoin, CBDCs are fully centralized and transaction records can be fully tracked.
Mr. Ardoino also mentioned that when he first heard about blockchain and bitcoin, he felt "it was like inventing a nuclear weapon - a powerful but catastrophic technology if abused", warning that a CBDC could give government entities full oversight over digital currency transfers.
Tether CEO: CBDC could evolve into a surveillance tool for governments
2025-10-13 01:37:11
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