Maybe they just don't want all of their personal information to be stored in yet another database waiting to be leaked.
Maybe they shouldn't spend their time evangelizing and shilling cryptocurrencies online just because their own financial security depends on tricking as many new suckers as possible into investing all of their money into the same get-rich-quick pyramid schemes they put their own money into, so they can pump and dump and pull the rug on them the way somebody else did to them.
Your unhinged attacks are factually inaccurate, and contribute nothing to the discussion at hand (that is, about payment systems for individual use, which are usually denominated in fiat currencies, which usually get paid in stablecoins) besides anger and hostility. I’ve been using cryptocurrencies as an end user for more than a dozen years and have never done any of these things you list.
Perhaps you paint with too wide a brush.
This whole discussion thread was started by YOU, shilling and evangelizing cryptocurrency, which I just listed as something you should not spend your time doing:
https://news.ycombinator.com/item?id=37798582
And if you use crypto to buy illegal drugs and launder money, I fully expect you'd lie about that.
But when you evangelize and shill like you're doing now, you're certainly assisting, encouraging, supporting, and appealing to criminals who do.
And if all you use if for is gambling, that's still a stupid idea. Did you pay taxes on all of your winnings, or is your whole point of using cryptocurrency income tax evasion?
Do you have any idea how much coal has been burnt on your behalf in the 12 years you've been gambling with cryptocurrencies?
You do know there are other ways to gamble and evading taxes that don't involve burning so much coal, don't you?
Either you've had government requests since then during the intervening 8 years and you're dishonestly concealing them, or keytern.al is not a serious company, and you're just yet another cryptocurrency scammer trying to defraud people and get rich quick by shilling on Hacker News.
So stop shilling your crypto key stealing company on Hacker News as recently as 23 days ago, if you don't have the time to update your list of government requests for user data in 8 years, missing 32 quarters in a row, or honestly answer legitimate questions about your company, and provide objective proof of your outlandish claim about your own security and integrity.
No, it is a feature, just not a feature for the customer. It's also not a feature for the bank or fintech. The strict identity requirements are a feature for the GOVERNMENT, and if you want to avoid them you probably need to start your own government (which is notoriously difficult).
It also sucks that you have to provide strong identity to the payer or payee, sending or receiving payments should not require disclosing identity. That’s a bug, not a feature.