Imagine someone gets a 2am push notification, taps deposit, puts rent money into a dog coin, and it's gone by morning. My opponent asks whether a gambling licence audits reserves or segregates funds. Fair, custody rules still matter. But the gambling frame reaches what pulled them in: the notification, the streak, the instant deposit, no pause. And licensing can make segregated accounts and reserve attestation conditions too. Targeted financial-conduct rules assume an informed investor; that person isn't. So layer gambling safeguards onto retail front ends, keep conduct rules for custody. That's how you actually reach both harms.