Ripple Chief Technology Officer: Government "Obsessed with Indirect Regulation"
On December 1, Ripple's Chief Technology Officer David Schwartz recently joined the list of tech founders opposing Operation Chokepoint 2.0 - a government-run de-banking action against the crypto industry. Schwartz stated that the government is "obsessed with indirect regulation," and listed four reasons why de-banking disrupts rule of law. Schwartz believes that entities subject to de-banking will switch service providers or move funds underground - thereby completely evading surveillance and sanction controls. The CTO also stated that cancelling banking services would violate due process, freedom of speech, and rights against illegal searches and seizures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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