[shivasaxena]

> But that was done by regulation, wasn't it? Would have been nicer to see that come as a result of competition.

Bill Gurly has been crying for years now about how US banks have been bocking/not-participating in equivalent services in US(Fed Now) and for good business reasons for them.

A well functioning market does need regulations. Not everything can be magically fixed by "competition"

https://www.linkedin.com/posts/kivatinos_bill-gurley-on-paym...

[eru]

> A well functioning market does need regulations. Not everything can be magically fixed by "competition"

Ideally, you can set up your regulations so that competition has more bite.

Much of the time, you can remove special purpose regulations for a specific sector, and can get by with just the generics: enforcing contracts, punishing fraud, etc.