Wrt. Ant Financial. Banking is a regulated industry in all parts of the world as modern fractional banking is essential a form of legalised pyramid scheme. If

Wrt. Ant Financial. Banking is a regulated industry in all parts of the world as modern fractional banking is essential a form of legalised pyramid scheme. If it is not regulated will inevitable oscillate and collapse. That Ant Financial need to be regulated like bank, rather than any other company, naturally follows from the nature of its business. The regulative crackdown on it would have happened in any other country as well. Maybe not in exactly the same manner but in substance.