Digital Payment System GNU Taler Gets Green Light to Operate in Switzerland

Ive heard of gnu taller before and I've tried to understand its scope of operation, but haven't been able to. Could someone ELI5 what does this give me that my bank's app doesn't? Is it _just_ privacy? Is it just the fact that the merchant can know nothing about me? Because if that's the case, isn't it really simple for banks to offer that feature as well?

Will EU anti money laundering act curtail this partly/wholly? https://eucrim.eu/news/the-eu-new-aml-single-rulebook-regula...

Not saying Twint is perfect. But I am really wondering how they are going to get into the Swiss market right now when Twint is basically doing all that and more and is already in everyone's pockets

GNU Taler is intended to give the government a backdoor to surveil financial transactions.

A system like this seems preferable to solutions like Bitcoin because the payer is anonymous while the payee is not. This should in theory alleviate much of the fraud and tax avoidance that commonly occurs with cryptocurrencies and other anonymous payment methods.