I think these kind of shenanigans are byproducts of how regulation in financial services is delivered from the regulating bodies to builders in the space. As op

I think these kind of shenanigans are byproducts of how regulation in financial services is delivered from the regulating bodies to builders in the space. As opposed to e.g. health where clear guidelines are often the norm, fintech is basically a shit show where regulators expect you to have internal processes to combat fraud, know your customers, do not finance terrorism, money laundering et al. — all without laying out actual precise guidelines of what they really expect want to see from an implementation standpoint, keeping you on your toes all the time. This leads to self-inflicted wounds from financial services providers, anticipating that regulators might not like e.g. stoner stocks and preemptive actions to minimize risk of being shut down.