But, what’s the incentive for an incumbent like Zerodha to do that?
More incremental regulations (and any complexities gradually/constantly being added)
usually act as a deterrent for any upcoming competitors
as the incumbent has the scale to deal with them compared to the upcoming competitors.
…which is happening on a regular basis. Right ?
So, does that mean more guardrails required? 
Thought-A.
the type of trading activities being disincentivised
Is there a way to frame them as a non-zero-sum game?
Thought-B.
Does the regulator find themself in a trolley problem scenario?