Yes, the fact that current regulations apply only to institutions is the point! When (unregulated) individuals function like scientific institutions, conflict

Yes, the fact that current regulations apply only to institutions is the point! When (unregulated) individuals function like scientific institutions, conflict results, because the current system was not designed with this in mind. The ethical framework does not apply only to institutions. Ethics are for everyone. Edit: If the prevailing attitude is that doing human subjects research as an individual ("biohacker") means research ethics can be ignored, because current regulations cannot punish you, it makes total sense that Paypal etc. would simply run away from it. Keep in mind that the article frames the biohacking effort as an equal alternative to institutional science. If it is to be seen as a legitimate and equal scientific enterprise, it needs to develop equivalent ethical governance.