If you read about the history of nation-state oversight of finance, you can learn that going "without the burden of nation state oversight" is approximately equ

If you read about the history of nation-state oversight of finance, you can learn that going "without the burden of nation state oversight" is approximately equivalent to "a giant casino ecosystem". Not always, of course, but often enough. E.g., the South Seas bubble, the wildcat banking era, and the US stock market leading up to Black Tuesday. An awful lot of financial regulation comes into being because financiers working in some unregulated area create such a giant disaster that there's enough popular anger to override government's normal tendency to suck up to people with money.