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by dzink
2944 days ago
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Buying a bank exposes you to being regulated and restricted as one, just as doing business on Government contracts adds a bunch of friction and overhead to every transaction and to your business (ask Google/Alphabet). The key to mass payments is lower friction per payment. Tech can fix a lot of things that regulation had to be used to prevent, but you have to pay the regulatory cost before you can remove the requirement for it. It's a bit of a Catch 22 in the US. |
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