Yeah, this isn't that kind of regulation. This is purely about transfer of money to prevent money laundering, in FinCEN's eyes. These regulations aren't about the customer.
I'm not confused. I'm protesting the use of gift card exchange as an example of innovation.
I phrased it in terms of sensible regulation because you proposed that the alternative to bad regulation was no regulation. If you cited a specific rule that was onerous and explained why it didn't actually accomplish anything, that would be different.
I am confused. Can you point out exactly where I propose that the alternative to bad regulation is no regulation?
In the proper political environment, I'm actually not opposed to "good regulation". The problem is, the bureaucrats are taking the appetite of part of the public for "good regulations" and using that political capital to make more barrier regulations -- the bad type. Worst of all, they enforce these regulations with SWAT teams and long federal prison terms [1, just one example of many, since I know you'll ask].
So as long as the government is continuing to pass more barrier regulations meant to prop up the big corporations through regulatory capture, and as long as they continue to enforce those regulations at gunpoint instead of with some sort of civil court like a civilized country would, they get no pass from me for more "good regulations".
