The main reason for this is to help prevent abuse of the points system for artificially inflating each other's life-time points count. It is also essential for the upcoming karma non-bundled addon as karma could be awarded when receiving points from other members.

This is not all that straight forward. You're saying everyone should be subject to limitations to prevent abuse, but I say if I want to give some huge number of points to someone, I should be able to do so.
If that means then I need to have some special approval, or permissions, then that's making this feature much more complex. The abuse problem is currently solved via notifications and point transaction moderation.
I don't think we should be slipping stuff in that isn't completely trivial based on a non-bundled addon that isn't a part of the development process.

I'm confused... points is a bundled addon. What non-bundled addon are you talking about? (EDIT: Oh you meant karma; I still think it's an important feature to reduce life-time points abuse since life-time points are used for ranks etc. But perhaps not something we implement; maybe a sponsored feature)

Okay perhaps a reasonable compromise would be to require staff APPROVAL for transactions above a certain amount. And make that amount a group setting for Conversr, and a config options for non-Conversr.

That could work. It would add some additional complexity (new privilege, new notifications, new column on the ledger table for "validated"... perhaps we use the validation (renamed from unvalidated) addon instead? And make a points ledger item a resource that supports validation). So not something I'll do for 11.0.

I think I'd want to keep validated for content only, otherwise it becomes complex in the UI, to explain, etc. We already have approval for new members that doesn't use the validated addon.

Noted. I'll use something like "approved" then with a separate privilege and notification.