Comment by ETH_start

Speed bumps are built on public roads, which are shared property.

A private transaction is incomparable to that. The government imposing itself on every private economic interaction, by making itself a gatekeeper from whom you need permission, is incredibly invasive and dangerous. The threat vector here is the government, or the people in it, harming the general populace through malice, and more commonly, incompetence in how they wield these powers of warrantless surveillance and financial exclusion.

Banks unilaterally closing people's accounts, or refusing to open an account for them, because those people fall into high-risk categories, is now very common.

On the bank side alone, the costs of this system are estimated at hundreds of billions of dollars a year. All those costs are ultimately passed down to the consumers in a way of higher banking fees. On the consumer side, not knowing if you can move your money or access it is a significant source of anxiety that also makes it harder to plan one's life.

That's the "ton of collateral damage".