Ripple is defective. It's nice that you'd like to contribute to a healthier marketplace, but the answer is not building yet more nonsense on broken ideas and with bad tools. "Regulatory fears" are not the enemy here. They're but a symptom of the specific ineptitude of those who have followed similar "let's build with broken bits" paths.
This is going to come off inflammatory, but I'm only saying what I've noticed many others insinuating in their responses to you as well. Your securities exchange is extremely unpopular because you have no interest in usability or user experience and have an arrogant attitude that tends toward assuming your users are idiots if they don't want to machette their way through your archaic user interface instead of expecting you to actually take some pride in your site's presentation and do something about it. I've no doubt that your technical ability is great and that the technology powering your exchange is wonderful, but seriously, usability is
important. Give a shit about your site's presentation.
http://www.nngroup.com/articles/usability-101-introduction-to-usability/http://www.visiblelogic.com/blog/2011/03/study-shows-people-dont-trust-badly-designed-websites/http://www.nngroup.com/articles/definition-user-experience/Give a shit about your design and assume that feedback from your users is worth considering, because right now, you are hamstringing yourself with that god-awful mess that you're flogging as the best exchange around. If you sorted that out, I'd happily be an advocate for your service.