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One key component being alluded to here is that banks are legally required to know who you are (KYC). And there are consequences if they don’t. That alone makes

One key component being alluded to here is that banks are legally required to know who you are (KYC). And there are consequences if they don’t. That alone makes a huge difference in everything having to do with the traditional banking system.

geoffmunn 1y ago
That's only a post-9/11 requirement, so it's not really part of the 'traditional' banking system.
- Kbelicius 1y ago
  Following your logic there never will be and there never was a traditional banking system because rules and regulation around banking keep getting changed.