“Banks are afraid of only two things: regulators and their wives, and they’re more afraid of their wives than the regulators”

I would retroactively make that quote gender neutral but they're really not afraid of their husbands.

Financial institutions feel like blockchains don’t have a clear chronology of KYC/AML, they dont care about KYC/AML they care about violating it for their relationship with the regulator.

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jongjong 3 hours ago | parent [-]

I switched to a different, smaller payment provider. It was pretty easy to switch. No problems at all there. I wonder why I even wanted to use Stripe in the first place. You'd think with their size they wouldn't have to fear regulators. These big companies usually have all the regulators in their pocket.

	▲	yieldcrv 2 hours ago \| parent [-]
		Stripe is right in the middle Smaller institutions take risks with a niche, and gun for exceptions with the regulators that bigger institutions dont find worthwhile to bother with And the biggest institutions dgaf because their relationship with the national government will never be broken