2min chapter

The "What is Money?" Show cover image

Regulated Bitcoin vs. Real Bitcoin with Obi Nwosu (WiM233)

The "What is Money?" Show

CHAPTER

The Punishment of Getting It Wrong

Risk-based regulation is a powerful tool to control an industry, but it only works if you are in the regulated space. The punishment of ever making a mistake going forward and letting the wrong person have an account could be as strong as never being able to take on any regulated role for the rest of your career. This is why there is a desire to move people into the regulated world with these sort of enticements of ease of banking. Don't you want it to go away? Just agree to be as part of this regulated system and it will be easy," he says.

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