I feel like this whole article was written for some alternate reality where the only reason every company isn't a bank is that they don't have the infrastructur

I feel like this whole article was written for some alternate reality where the only reason every company isn't a bank is that they don't have the infrastructure. Banks are regulated for a long list of reasons, and allowing every company that wants to make money fast act like a bank is a really, really bad idea. Money laundering, tax evasion, embezzlement and a thousand other white collar crimes will be vastly increased by increasing the number of corporations allowed to act as banks while not simultaneously providing regulatory frameworks. Imagine Paypal times 10,000.