[imtringued]

There are two problems and they are intertwined.

We need to have regulation that allows startups to open mini exchanges and banks with easy compliance and unconditional licensing but with heavy restrictions on per customer funds and total funds they are allowed to manage.

The problem is that if you want to open an exchange in say Germany that is practically impossible. You can't get equity or loans for a bank if you don't have a bank license. You need a million or more starting capital to start your own bank. It is a chicken and egg problem.

That leaves a huge hole that unregulated exchanges want to fill and they have a massive competitive edge because they aren't held back by these regulations that are meant for megacorporations.

[roflyear]

i do think there is a separate problem entirely that regulations are often really hard to follow, i think limiting the involvement in lobbyists may help there, or at least some lobbyists...

(like, turbotax really should not have a say in how i file my taxes... or how hard it is...)