I was wondering what was up with X Money. I thought they were going to implement payments or tipping or something (I guess X does have tipping? but like, who actually uses it?), but there wasn't much about it. So then I saw this post today:

𝕏 Money has already been live in closed beta internally within the company. A limited external beta is expected soon, and they’ve already secured money transmitter licenses in over 40 states plus DC. 𝕏 Payments is registered with FinCEN. Visa is officially partnered. You’ll be able to fund your wallet instantly, send peer-to-peer payments, move money to your bank, and eventually use a debit card.

Okay. So if they're gonna play by the rules, does this turn X into a geographic thing? For all the blue check/verified/kyc'd people, they can send money to each other...when it's legal -- I imagine it might be challenging to pay someone who lives in a different country. And then there's all the unverified accounts on X. I assume they just get excluded from this. So how useful will the system be if you can make payments to maybe only 30% (or less) of the accounts you interact with?

This will probably start as a simple wallet where you can send money as easily as sending a DM. With this technology, you can pay creators, pay subscriptions, pay whatever bills, shop inside the app, get paid inside the app, and much more.

Yes. This is what people want. They want to be able to pay others as easily as they can talk to them. I don't believe any regulated entity can provide this kind of functionality. This is, to me, the whole reason stablecoins are gaining market share right now: they aren't as heavily regulated and so they get closer to the send-money-as-easily-as-words world. But their clock is already ticking. Governments don't like people freely sending money around. So what's the money that can't be regulated?