[csee]

Even if they could assess those risks, how confident are we that the government wouldn't err far too much on the side of risk aversion? Bureaucrats and politicians would see no upside in allowing a medium-risk high-reward venture to go ahead, since the outcome is binary for them - get the same salary regardless or get fired if something goes wrong.

I think the idea is terrible. You want laws to be prescribed and debated, not allow some administrators to make shit up on the spot.