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by shivasaxena
267 days ago
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> But that was done by regulation, wasn't it? Would have been nicer to see that come as a result of competition. Bill Gurly has been crying for years now about how US banks have been bocking/not-participating in equivalent services in US(Fed Now) and for good business reasons for them. A well functioning market does need regulations. Not everything can be magically fixed by "competition" https://www.linkedin.com/posts/kivatinos_bill-gurley-on-paym... |
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Ideally, you can set up your regulations so that competition has more bite.
Much of the time, you can remove special purpose regulations for a specific sector, and can get by with just the generics: enforcing contracts, punishing fraud, etc.