"With Attack on Consumer Bureau, Musk Removes Obstacle to His ‘X Money’ Vision"

[$tevie]

And you know what’s interesting about that, don’t you? You know who wants to get back into the fintech game? Elon Musk! He’s been planning for a long time now to turn The Site Formerly Known As Twitter into “an everything app” that would ultimately also be a payment app like Venmo or Paypal. In January, he announced that he was partnering with Visa to create “X Money Accounts.” Had Trump lost, this would have been regulated by the CFPB and will now be regulated by absolutely no one, while regular banks will still be regulated by the Federal Reserve, FDIC and the Office of the Comptroller of the Currency.

https://www.wonkette.com/p/banks-suddenl...they-might

[vision63]

I don't see how X-everything would be all that big a deal. How much power does PayPal have? Who trusts them with large amounts of their money over the long term? That was as great story. These people better win the next elections. Prisons are going to get filled up.