The current MSB/MT regulation is a massive economic boom for the GreenDots, PayPals, and Western Unions of the world. They will move massive sums of money in lobbying to kill any attempt that opens the flood gates for competitors.
Maybe this time will be different, it certainly is needed.
Classic regulatory capture. This does suggest why Bitcoin businesses should try and fight the regulators and exempt themselves whenever possible.
The whole notion that placing a transaction on the blockchain is somehow the equivalent of transmitting sovereign currencies from one place or time to another on behalf of another party seems rather a stretch legally.
Exactly.
And that is exactly what must be challenged.