banks are not pulling the rugs from under exchanges.
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I thought it cost like $1M
for each state to get a money service business license, and that is just in the US. Right? Wrong? You at least pretend to know something about it.
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if you cant afford to get the licences/insurance (FDIC) then maybe your not the right person to be looking after peoples investments
I don't have much interest in looking after other people's 'investments'. OTOH, it seems like there are probably a fair number of talented people who could make a positive contribution to certain usability issues, but having them locked out by a banking/regulatory cartel because they don't have $50M excess funds kicking around is wrong. It detracts from my ability to select value-adds for my investment by quashing them before they start.
It is also the case that I pay a fair amount of taxes without pitching to much of a bitch about it. In addition to roads, I also want reasonable access to the legal system I pay for. By locking out or forcing Bitcoin related businesses underground it becomes more cumbersome for me to leverage my legal system when I need to. A side effect is that it opens up a huge market for criminal users who know that they have nothing to fear from law enforcement.