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.