Total deregulation is the only way. People should be free to contract as they wish, without limitations imposed on them by centralized regulatory authorities.

The alternative in this age of instant global communication is this: US regulatory agencies having to prosecute companies in other countries because people living in the US were able to access the companies' services through the internet, resulting in no company anywhere on Earth being allowed by arms of the US regulatory system to provide financial services that do not ID and track customers.