Regulation loosens and regulation tightens

in New York as it seems a crackdown on Fintechs is underway. SO, what was once allowed is now disallowed? Courts are now tightening the regulatory umbrella, that was previously loosened. About a two minute read.

Comment: This seems driven by incumbents, who are threatened by the rise of Fintechs. We saw similar regulatory response during the rise of e-commerce; entrenched retailers fought a war behind the scenes to crack down. Sometimes it worked, sometimes it didn’t but over time bricks and mortar lost. The same scenario will play out here.