Ripple CTO David Schwartz has criticized Operation Chokepoint 2.0, a government initiative targeting the crypto industry that is allegedly being implemented through de-banking. Schwartz said de-banking undermines the rule of law and leads to reliance on indirect regulation. JPMorgan Chase’s de-banking of Frax Finance founder Sam Kazemian and Coinbase CEO Brian Armstrong’s FOIA request are adding to concerns in the sector.