I don't think this makes sense. You seem to be saying that a bank has to do all these things to control criminals while simultaneously arguing that there are simple methods criminals could use to bypass the banks (ie, deal in cash and keep it under the mattress or use crypto).

Given that the criminals aren't going to be using the banks it would make sense for the banks to not have mandatory administrative overhead that is easy to avoid.

> Nope. That is a storage locker.

Again, sounds good to me. Let people have a storage locker with a plastic debit card attached. If people had the option of a bank that was a little bit more responsible and didn't roll the dice of total collapse every financial crisis there'd be many that would go for that. Prepper types for example. The discourse glosses over how crazy it is that full-reserve or near-full-reserve banks are soft-banned.