According to a former director of Ripple, XRP cannot be seized by the government
Mat Hamilton, the former head of developer relations at Ripple, addressed the XRP community once again to dispel concerns about a potential government buyout of the coin from the market.
As before, he emphasized that such a course of action would be impossible due to the fact that digital assets get their value from their users.
A small but vocal minority of the XRP Community is advocating for the US government to purchase back/confiscate XRP from US people while rewarding them at a rate of hundreds of thousands of percent over the market pricing.
In addition to debunking yet another round of disinformation about the government buying back XRP, Hamilton dispelled rumours of potential seizure. This idea is a continuation of the original conspiracy theory. As a reminder, there are allegations that the same government would remove XRP from the market for its own purposes and to prevent the spread of the technology elsewhere.
According to Hamilton, there are at least three reasons why the confiscation of XRP is unfeasible. First, the creator stresses that XRP is a decentralized coin that cannot be taken unless key holders are forced. Second, it is simpler for the government to generate its own digital token if it needs one for its own purposes. Lastly, if the U.S. government prohibits everyone from using XRP, the token would be rendered useless and replaced by a fork.