The Regulator

The Regulator

Institutional & Governance

Sits on the government side and defines the rules for everyone else

The Regulator is the government side of the bridge builder relationship. They define the rules under which the entire ecosystem operates. During hype cycles, they are often underprepared for the speed of change — creating regulatory lag that the ecosystem exploits. The most effective regulators develop genuine technical understanding rather than relying solely on industry briefings.

How it earns

Government salary (typically lower than private sector); long-term: revolving door into the consulting industry.

How it fails

Regulatory capture: becoming captured by the industry being regulated. The Lawsky pattern: created the BitLicense → founded a compliance consultancy selling BitLicense compliance.

Real examples across cycles

Linux / Open Source

  • the Munich city council (which decided LiMux — a procurement regulator)
  • the EU's open-source strategy and the US Federal Source Code Policy (code.gov)
  • the judges in SCO v. IBM

Crypto

  • Gary Gensler (SEC)
  • BaFin crypto division
  • Benjamin Lawsky (BitLicense)

AI

  • EU AI Office officials
  • NIST AI Safety Framework team
  • national AI oversight bodies

Your first step

Attend a meetup of the industry you regulate — sit in the audience, not on the panel.

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