Fintechs have to abide by the laws of the costumer’s country, thats why they usually don’t roll out to every euro country at once.
As an example, Curve has still not launched in Portugal as they are still getting into compliance with Portuguese laws.
As for you completely disregarding due process, thats highly troubling from a democratic standpoint. So you agree with giving banks the power of seizing financial assets without court order? That would never fly here in Portugal.
As an example it’s common in other countries to have banks that don’t allow crypto currency related activity. Here in Portugal about a year ago a bank tried to do the same and it was major news, they suffered a lot of backlash and a lot of accounts where closed even by people who didn’t have the faintest idea of what crypto currency is, the idea of someone telling you that you have limitations on what to do with your money was enough.
They reverted that policy within 3 days.
Bank secrecy is very important here in Portugal and it’s crucial for banks to maintain at least the illusion that no one sees what’s in your bank accounts or touches your money. Banks will go to great lengths to maintain costumer’s privacy and will have total transparency with the costumer when they can’t do that due to court orders
Getting on topic from now on