It's a reasonable expectation that any and all institutions handling your money might be gangs of thieves run by charlatans. This is why any deviations from reg

It's a reasonable expectation that any and all institutions handling your money might be gangs of thieves run by charlatans. This is why any deviations from regulation should be viewed with extreme suspicion, since that's the only thing that mostly succeeds keeping these thieves and charlatans in check and protecting customers. Silicon Valley Bank is a great positive example, where the depositors were protected even despite the fact that the thieves and charlatans wanted to take on unacceptable risk by successfully managing in 2018 to lobby exemptions to the Dodd-Frank regulations that would have prevented the thieves and charlatans from doing so. So any financial institution that tries to circumvent even slight parts of regulations should be treated with extreme suspicion (as thieves and charlatans who want to take your money), and any financial process which tries to stay outside regulations as such (e.g. Monero) needs no suspicion at all, as this means that they're explicitly publicly acknowledging that yes, our gang of thieves and charlatans want to re-enable the ways of taking your money which were limited for the other gangs of thieves and charlatans.