X “unfit” for banking because of complicity in Saudi spying, lawyers argue(arstechnica.com)
arstechnica.com
X “unfit” for banking because of complicity in Saudi spying, lawyers argue
https://arstechnica.com/tech-policy/2023/09/x-unfit-for-banking-because-of-complicity-in-saudi-spying-lawyers-argue/
3 comments
Even without the Saudi connection, Twitter doesn't exactly sound like a great basis for a bank to me.
Regulators shouldn’t be put in a discretionary place to begin with.
The current banking licenses don’t prevent impropriety, dont prevent illegal activities.
Merely disliking some geopolitical thing shouldn’t be a factor in having a banking or money transmitter license.
A bank with a custodial solution and hedge more comprehensive than “go long on US treasuries” is good enough
The current banking licenses don’t prevent impropriety, dont prevent illegal activities.
Merely disliking some geopolitical thing shouldn’t be a factor in having a banking or money transmitter license.
A bank with a custodial solution and hedge more comprehensive than “go long on US treasuries” is good enough
On top of that, Xitter is using an Israeli intelligence firm for user verification. No way should Xitter become a bank with so many leaks to foreign intelligence services.
[0] https://www.middleeasteye.net/news/x-twitter-israel-concerns...