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Unscrupulous operators will just run up huge liabilities and close up shop by the time they can be identified and dragged into court, meanwhile having started another similar operation under a different name. That's basically already what's happening, and the speed differential between the technology and the law will be forever in their favor.

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Which is why bonding is applied, as with other high-risk ventures.

The bonding agent (the Surety) sets the bond rate based on the perceived risk of the venture.

Unbonded ventures are not permitted to operate. In a telco context, unbonded carriers would not be peered to other carriers.

Overview of how surety bonds work: <https://www.suretybondsdirect.com/educate/what-is-surety-bon...>.

California's present regulation: <https://oag.ca.gov/consumers/general/telreg>

The idea is that telecoms would be on the hook for these folks' behavior; they'd be incentivized to scrutinize them more thoroughly.

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