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Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’ (www.theverge.com)

submitted 1 year ago by [email protected] to c/[email protected]

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“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

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[–] [email protected] 424 points 1 year ago* (last edited 1 year ago) (57 children)

Just wait till Musk learns about banking regulations.
He's already complaining about the EU regulations on social media, but they nothing compared to what banks have to deal with.

[–] [email protected] 3 points 1 year ago

Yeah, getting the licences involves a ton of audits, compliance to a bunch of regulations, etc. All stuff Twitter has no experience with.

It would literally be easier to just start this thing from scratch instead of grafting it onto a social network.

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