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by ufmace 959 days ago
This aspect of things really ought to scare everyone a lot more. All of the enormous mega-corporations involved in card processing are so heavily regulated and so dependent on the Federal Government, that it doesn't even take actual laws to make them do things. Just get a couple of regulators in place to vaguely hint that they might have a hard time at their next compliance review if they don't ban thing X that we don't like today, and boom, it's gone. Only a few companies can even afford to operate in this space, so that's all it takes to effectively ban something from the whole financial market.