The Ripple CTO Responds To CEO's Anti-IRS Post

in #pyramid • last year

Ripple's CTO David Schwartz responded to the CEO's anti-IRS message.

Ripple CEO Brad Garlinghouse recently published a blog post titled IRS Gaming with Digital Assets. In it, he accused the IRS of using a blunt instrument to tax XRP sales. He also said that the IRS goes beyond its mission by making it difficult to use digital assets in commerce.

In response to this post, Schwartz wrote: I think Brad knocked this guy out of the park!

  • He went on to explain why he agrees with Garlinghouse's view:

The IRS tries to apply rules designed for items like gold and silver to things that don't fit those rules. They try to do this without giving any guidance or clarification to people about what they consider a taxable event. This creates uncertainty and risk for those looking to trade or invest in XRP or other digital assets.

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