When banking become crypto?

I think there are several things that we need to achieve before crypto could replace banks:

1 - Clear regulations. Status of crypto is not well defined in many parts of the world. Existing regulations are vague and frequently change.

2 - Good enough users experience with crypto:

• wallets are not very friendly to users who don't understand crypto;
• way to recovery lost wallet keys;
• processes for recovery of stolen funds and more

3 - Wide acceptance of crypto as a form of payment.

I think # 1 adds the most uncertainty.

Crypto is still in it's infancy, so there is a lot of improvements to be made here and there and uncharted areas to explore. However, there are a number of DeFi projects that provide financial alternatives.

crypto has somewhat replaced banking for some people already(Me, included); Here are a few things you can do in crypto:

• Saving: You can stake stablecoins and earn up 10% or more in interest. Providing liquidity can be another way to save and earn even higher interests which can exceed 100%; though it's risker because of impermanent loss.
• Borrowing and lending in crypto and quite interest; Where you over-collateralize assets to borrow, but with reasonable interest rates.