> some countries find such creative ways to stifle innovation while they look to be caring about safety or what not

I'm not sure white-hat hacking is broadly compatible with German culture. Keep in mind that going bankrupt in Germany permanently closes off lots of avenues, from future lending to whether you can be in senior management at a public company.

Bankruptcy does not usually permanently bar you from loans or holding senior management position, there are temporary restrictions, unless grossly negligent. But your point still stands I guess, when compared to the US