Each time a new technology comes around, we seem to forget all the lessons we learned before. We them re-learn them again, much more quickly and just as painfully.

The same thing happened with crypto. Crypto started with some correct assumptions like "online services that stop working when it's a holiday are ridiculous", "it should be possible to send money to a friend without your government knowing about it", or "money transfers cost nothing to execute, so they should cost nothing." It then promptly threw out the entire framework of banking regulations, quickly re-learning why most of those regulations existed in the first place.