This is not a consequence, it is a rule and i don't feel rules are bad or unhelpful in parenting so long as i can always anmswer the question "why?" when it is asked.
I like this DS knows he has to hold my hand near the road and when he insists 'I walking" I tell him he can walk and hold my hand because it's "danger danger danger, look for the cars". Mostly, I don't automatically say "no" when he wants something, I will find a way to accomodate him, just not with the road, poisonous substances or when I have to be somewhere important like uni (for an exam or appointment). Because he knows that I'm not rigid, he comes to me with requests and doesn't hide when he's trying something new - I'm not the 'enemy' and I'm not going to set myself up as one. I don't like when people and experts say "You're not there to be their friend, you're the parent", as if they have to be mutually exclusive. Friends can still show leadership, and leadership is not something you beat into the people you are leading - ideally, you lead by example and empowerment...isn't that parenting? Some of my own community leaders are my friends!