Regulatory capture, which is the broad umbrella I'd put that under, is a problem with any attempt at regulation, I agree.
We can imagine a better regime, which could say "if you attempt to cheat or skirt around on this, we're going to hammer you harder than if you just break the rules", but how to actually get it is pretty murky. Easy to aim for that, and land in a situation where shadowy individuals wield great and capricious power.
We can imagine a better regime, which could say "if you attempt to cheat or skirt around on this, we're going to hammer you harder than if you just break the rules", but how to actually get it is pretty murky. Easy to aim for that, and land in a situation where shadowy individuals wield great and capricious power.