They are trying to merge total privacy with traditional banking, and while it is a great dream to have, realistically it is not possible.
It is totally possible. Not all jurisdictions are the same. Places like Anguilla have 20 year prison sentences for breach of privacy. There is a huge world out there and plenty of jurisdictions still protect privacy. Especially since TokenPay has said it plans to conduct fiat transactions in the HKD. This takes the USA out of the equation.