Wise, like any other fintech is fun until it randomly closes your account and bans you. No one can ban you / freeze your assets with Crypto, that's a good selling point imo.

Only if you stay in cryptoland. As soon as you hit someplace with fiat rails, in a jurisdiction that requires adherence to regulatory requirements, your account is just as regulated.

Crypto has its own failure modes: https://www.web3isgoinggreat.com/

(day job is in US financial services, have consulted on implementing aml/kyc/sanctions support for where crypto rails meet traditional finance infra)