Some people see the value of self-custody as superior to any downside. They don’t see it as a problem, and that’s most of the crypto we have now, with all its downsides.

Regulation, reversing transfers, and all of that, can be implemented only by centrally controlled entities, which is in the process of happening as we speak. It will become the equivalent of VISA or PayPal, but hopefully with either one of those, or some other regulated entity, still allowing micropayments and at least some smart contacts.