They have to do their best to stay relevant. If finance goes DeFi and people take responsibility for their own actions, then the regulators cant say they are doing things to "protect the public".

Of course, this is a fallacy; they are in place to protect the establishment and the existing players.

The EU is going batshit crazy with their desire to keep the failing actions of the ECB going. They are even worse than the US which is hard to be.

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