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I think the biggest problem with fintech is that the financial system is already decentralized, and full of tech. It really just seems like it involves using unregulated technology, which allows the skipping of restrictive regulations. This might actually be a good thing, but once a path has been proven to be non destructive the banks can just take over the market by begging the government for deregulation.

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> It really just seems like it involves using unregulated technology, which allows the skipping of restrictive regulations. This might actually be a good thing

Yeah, it's basically Uber for finance/banking/etc. Reap the free real estate created by rules and regulation by..skirting the rules and regulations.

It also adds indirection, which in turn allows all the parties involved to point fingers at each other Spiderman-style. "Oh I thought $X was responsible for $COMPLIANCE." Eventually, y'all get audited and shape up but that's a years-long process. And in that time you've grown and grown and finance/banking/etc is pretty sticky. Kaching :)

Except that stablecoins are strictly regulated thanks to the GENIUS Act and hopefully the CLARITY Act will provide the same guidelines for crypto as a whole. Gary Gensler did nothing to create regulation. David Sacks is out there doing God’s work.

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