npub17w…gv452 on Nostr: in the US we actually have two federally guaranteed consumer banking systems, one of ...
in the US we actually have two federally guaranteed consumer banking systems, one of just normal banks, but the other type is called a credit union, and that might have some relevance here.
Overstating for effect, CUs exploit loopholes in banking regulations by operating as exclusive clubs with membership requirements, that often seem pretty lax.
Well, given the excerpts I see in the post, Fediverse instances might be able to escape the regulation the same way, with administrators putting forward a minimal membership requirement so that the purpose isn’t international communication but just a place for local members to talk among themselves.
Overstating for effect, CUs exploit loopholes in banking regulations by operating as exclusive clubs with membership requirements, that often seem pretty lax.
Well, given the excerpts I see in the post, Fediverse instances might be able to escape the regulation the same way, with administrators putting forward a minimal membership requirement so that the purpose isn’t international communication but just a place for local members to talk among themselves.