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For whatever a banking license doesn't cover, requiring more regulation/oversight doesn't seem unreasonable to me, but straight up keeping tech companies out is
by el_cujo 7y ago
For whatever a banking license doesn't cover, requiring more regulation/oversight doesn't seem unreasonable to me, but straight up keeping tech companies out is silly. Smells like big financial institutions are probably lobbying to keep the new kids out of their sphere.
- roboys 7y agoThey know what they are protecting. The financial institutions pocket 20% of global GDP by providing very simple, cheap & easily automatable services, from a tech standpoint.