I’m moderately familiar with exchanges. I've had quite a lot to do with them including being involved in a coin listing.

I notice substantially lower documentation requirements for a crypto exchange vs a bank. For example for both Binance and Gate (and I think Coinbase - not entirely sure there) I only had to supply a single identification document. For my bank accounts I've never been able to open one with less than 3 documents.

Not sure what your point about HSBC is. If you think SBF or CZ shouldn't be in jail then I don't know what to say. In the case of HSBC I'm not aware of individual witness accounts of deliberate criminal behaviour of individuals like both CZ and SBF did. But I absolutely agree people should have gone to jail.

In general crypto people seem to disagree with the idea of laws - specifically ones that apply to them. When challenged they resort to whataboutism or conspiracy theories. It's a set of weak arguments and really lays bare the weak intellectual foundation the whole crypto industry is based on.