Can Australian merchants accept Crypto while avoiding banks?

Can Australian merchants actually accept cryptocurrency payments while completely bypassing traditional banking systems? Given the growing popularity of digital assets and the desire for merchants to reduce reliance on traditional financial institutions, is it feasible for Australian businesses to adopt cryptocurrency payments directly, without having to go through the conventional banking channels? Would such a system ensure speedier transactions, lower fees, and increased autonomy for merchants? Additionally, what regulatory considerations would merchants need to be aware of to ensure compliance with Australian laws and regulations regarding cryptocurrency transactions?