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Bullcookies. Transmission laws are the cause of both the stagnation and the innovation. Innovation is literally people finding new ways around established methods.

Put a blockade up, and people will innovate around it. Engineers are not known for going gently into that good night.

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And your evidence for this wild notion--that money transmission laws spur innovation--is?...

Bitcoin?

...except that A) Bitcoin doesn't get around money transmission laws, it causes large numbers of people to inadvertently violate them; B) that's why Coinbase had to completely shut down in Wyoming as I recall; and C) is anyone seriously suggesting that Satoshi Nakamoto took a look at some state money transmission statute or 18 U.S.C. § 1960 and decided to create Bitcoin as a result? If so, that would be the first time I've heard that.

This isn't Uber fighting petty city bureaucrats and taxicab owners; "disruption" in this field fucks with what it means to be a nation state, and the state will never tolerate any infringement on its right to issue and manipulate currency.

I'm not saying that innovation isn't possible -- I'm just saying that it has to come from within the establishment.

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