> In a world where cash is starting to dissapear, payment processors and banking in general should be regulated and treated just like some sort of utility company
I'm not sure if you are missing contacts or providing irony. But the fact is payment processors and banking in general is extremely heavily regulated.
A few years ago when you saw almost all banks and payment companies starting to crack down on spending money to buy and sell cryptocurrency, that was to no small extent because federal regulators gave them a little side-eye about the subject. No specific regulations, to be clear, but a few pointed questions.
When every means of sending money overseas demands clear documentation of your identity, That's not so much because banks feel the need to know every detail of your business; it is strictly mandated by federal law. And while my examples all involve US banking, most governments around the world are similarly strict.
I'm not sure if you are missing contacts or providing irony. But the fact is payment processors and banking in general is extremely heavily regulated.
A few years ago when you saw almost all banks and payment companies starting to crack down on spending money to buy and sell cryptocurrency, that was to no small extent because federal regulators gave them a little side-eye about the subject. No specific regulations, to be clear, but a few pointed questions.
When every means of sending money overseas demands clear documentation of your identity, That's not so much because banks feel the need to know every detail of your business; it is strictly mandated by federal law. And while my examples all involve US banking, most governments around the world are similarly strict.