Ripple CTO criticizes US government for being ”poisoned by indirect regulations”

Ripple's CTO criticized the US government for becoming addicted to indirect regulation.
On the 1st (local time), Ripple's Chief Technology Officer (CTO) David
David Schwartz recently published a report on the government's debanking operation targeting the cryptocurrency industry, also known as "Choke Point 2.0."
Schwartz joined other tech founders who spoke out against the government's reliance on indirect regulation, arguing that the government was "relying on indirect regulation."
He laid out four reasons why debunking undermines the rule of law: 1. Debunked companies may switch service providers or hide their funds underground to avoid oversight and sanctions altogether.
They noted that debunking would violate the rights to due process, freedom of expression, and against unlawful search and seizure.
"The government relies on indirect regulation to enforce this type of misconduct. It has no right to charge someone with a crime and provide due process," Schwartz said.
"It's cheaper and easier to pressure someone else to punish me than to do it myself. But the government shouldn't punish people without providing them with due process."
"It is easier to pressure banks to stop doing business with unfavorable entities than to outlaw their operations," he said, urging governments to force companies to do business in a legal and transparent manner.
He urged regulation.