Safe harbour equivalent rules should apply, no? That is, the platforms should not be held liable as long as the platform does not permit for illegal activities on the platform, offer proper reporting mechanism, and documented workflows to investigate + act against reported activity.
It feels like a slippery slope to arrest people on grounds of suspicion (until proven otherwise) of lack of moderation.
Opening up the chip is great, but there needs to be a standard way to consolidate them all into one app/interface. Much like how HomeKit brings everything into one place, the Wallet (or some updated API based variant) needs to remain the central place, so we don't end up getting littered with vendor specific apps for different payment systems.