I think this may be a knee-jerk reaction to the rise in crypto-currency adoption, and Facebook's launch of Libra.
Rethinking it, this could also be taking aim at Amazon.
Sometimes, vertical integration can be a good thing, because for some spaces the alternative requires so much coordination that it's awkward and clumsy. If you look at Tesla's supercharger network, for example. The very fact that there are no really serious competitors yet that are not tied to a specific brand of electric car demonstrates how lack of vertical integration can be a major impediment for chicken-and-egg-type problems. And while I'm sure there eventually will be, just having Tesla out there in the forefront is useful as a leading example.
”Moxy...will be a technology company that just happens to fly airplanes”
https://www.dallasnews.com/business/airlines/2018/09/21/moxy...
FANG aside, I feel like purebred tech companies are more likely to deliver what people want as opposed to existing financial institutions that are interested only in keeping up (in the ultimate minimal sense) with what other companies show is possible.
I once worked at an online college that claimed to "not be a tech company". I replied, "if your website goes down then where will people go to take classes? How will professors interact with students?" They didn't get it.
Why wouldn't they just look at regulating the product side (ie the actual services like crypto currencies) on their own merits and not discriminate against who provides them?