Isn't the obvious solution to use an AOSP fork that does not have to comply with the registration requirements? Distributions like Graphene and Lineage are completely unaffected.
No bank in my country has an app that works with those, so it's not an option for me anymore.
No, because many apps refuse to run on third-party distros due to misguided notions of them being insecure. It's easy to say "just don't use those apps" but in reality, people are rightly unwilling to put up with any friction and so will simply continue to use Google's version of the OS.
Google are also destroying that path by delaying the releases more and more.