Easily exchanging fiat to and from crypto is a requirement for normal users, as is something like a bank who actually manages the process. If you want this all

Easily exchanging fiat to and from crypto is a requirement for normal users, as is something like a bank who actually manages the process. If you want this all to be an unregulated wild west of scams, eventually you won't have any normal users left as they all lose their shirts and eventually wise up. All you'll have left is crypto propeller heads (and the rubes too clueless to catch on to the risk associated with exchanges), and with such a small potential user base it'll never be useful for any practical application.