Fed Coin, El Salvador Coin are coming, say goodbye to privacy - E.B. Tucker
(Kitco News) - Cryptocurrencies represent the opposite of privacy, due to every transaction's provenance being traceable, governments will use this to their advantage when they issue central bank digital currencies, said E.B. Tucker, director of Metalla Royalty.
"What cryptocurrencies have done, is people have really embraced the idea of no privacy. Nobody wants privacy anymore. They love the idea of everything being tracked," Tucker told David Lin, anchor for Kitco News.
Privacy, in this case, refers to an individual's ability to counterfeit money and evade taxes, activities the government wants to control.
On central bank digital currencies, Tucker said that it's only a matter of time before Fed Coin is introduced, as well as an El Salvador Coin.
Tuckers' comments come as El Salvador President Nayib Bukele recently announced that the Latin American country is moving to adopt Bitcoin as legal tender.
For more information on the current market euphoria surrounding cryptocurrencies, watch the video above.