>> But fintech doesn't take deposits. The one central problem with banking is gone. > All banking regulations are due solely to the fact that banks take deposi

>> But fintech doesn't take deposits. The one central problem with banking is gone. > All banking regulations are due solely to the fact that banks take deposits? There is no other reason one could imagine for why banks, FinTech, or other financial services providers need to be regulated? All financial crises are runs on deposits? FWIW, the way I interpreted this was “crises are caused by over-leveraged systems becoming insolvent”, which sounds less wacky.