It's not the same situation because in the case of a bank the risk is obvious to anyone, but it's might be hard for non-tech users of a chat app to understand t

It's not the same situation because in the case of a bank the risk is obvious to anyone, but it's might be hard for non-tech users of a chat app to understand the dangers of unencrypted passwords. It's the same like regulating the other industries, say layman can't assess how good lawyer or civil engineer someone is, so government requires them to have certain education and licenses or they can't work. We will need something like that sooner or later in IT because there's simply too much amateurism in industry now, where everyone and their mother has a startup these days and people with no proper experience and knowledge are trying to handle often very sensitive things. Just look at crypto-market and all those hacked sites - not hacked because hackers are evil geniuses, but because programmers who built them suck at their job... and market can't regulate it itself because the demand is so damn high