>Am I allowed to call MY company an "entrepreneur" and thereby not be required to submit to strict scrutiny and regulation?
Scale is crucial. I think MtGox had market depth >0.5M$ on the bid side. That's one modestly wealthy client account in a bank. No way could you register a bank with that kind of capital, heck even 100x that. If it grows then you can argue about regulation, but if you're going to require everyone to have >0.5M$/year legal teams to enter the market then yes there's going to be very little competition from the small/disruptive innovators and it's using regulation to keeping the competition out. (Not that I think BitCoin is competition but other services could be).
Scale is crucial. I think MtGox had market depth >0.5M$ on the bid side. That's one modestly wealthy client account in a bank. No way could you register a bank with that kind of capital, heck even 100x that. If it grows then you can argue about regulation, but if you're going to require everyone to have >0.5M$/year legal teams to enter the market then yes there's going to be very little competition from the small/disruptive innovators and it's using regulation to keeping the competition out. (Not that I think BitCoin is competition but other services could be).