My online bank doesn’t support international wire transfers. I had to wire money to a local bank then go to the branch in person, twice, to wire money to my own brother in Europe. He then had to schedule an appointment with his own bank, go in person, and justify why he received such a big transfer, mind you, it was 8k…

So yeah, it’s not about regulation. If crypto can help streamline all this, it’s a net positive

screw regulation when a bank transfer isn't instant and the bank can do all kinds of checks and hold your money hostage for days or weeks.

I once wanted to send money to someone with an extremely common Arabic name, think "John Smith" in Arabic. My bank took issue with this and wanted a copy of their ID etc. One can speculate about why they wanted this, but ultimately I think it shows that the regulations are racist.

Obviously not true, as explained by other replies.

But if it was true, then so what?