Because the creator of crypto concept never understood why there are centralized institutions in the first place. It was so naive to think the problem was the correctness of the records and thus everyone should keep a copy of the global ledger!! I hardly if not never heard of any fraud that actually altered records held by the authority institutions and in fact, in all the fraud cases I know the records held by the authority institutions indeed correctly reflects what happened. So the problem was never about records but rather how to ensure the transaction happen as expected without having to know or trust the counter party. Of course in most of the cases the parties in a transaction don't know or trust each other and neither should they. So here come the neutral authority institutions which provides the instruments to allow the transactions to complete. So you can see that cryto is actually barking at the wrong tree and thus we again see authority institutions, exchanges or in this Ronin, emerged. Traditional institutions are heavily regulated and there is almost nothing for those so called exchanges.