I purposely didn’t comment on the size of the funding, but I do want to flag that doing this effectively will cost a substantial sum. To put it in perspective, upon a quick search, it looks like each major bank discloses approximately ~3MM in policy spend per year, and that’s what is reported. That’s not to say that the number proposed is correct or incorrect, but just to put real life costs to what otherwise might seem like a big number. You then take the inherent costs/what TradFi is spending/will spend to prevent displacement and you can quickly get to a perspective that this effort will require a significant budget. I understand that people may not view it as an “efficient use of capital” - but that doesn’t mean that what it costs to play the game goes down.
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