Executives in the encryption industry send a letter to Trump protesting banks charging data access fees.

robot
Abstract generation in progress

On August 15, over 80 executives from the Crypto Assets and fintech industries co-signed a letter to U.S. President Trump, criticizing banks for charging fees to access customer data, stating that this action stifles consumer choice. The letter accused large banks of attempting "to maintain their market position by imposing exorbitant new 'account access' fees, which will prevent consumers from connecting their accounts to better financial products of their choice." The Biden administration had previously tried to ensure free access to bank customer data, but opposition from the banking sector hindered its implementation. President Trump subsequently stated that the fee rules would remain in effect until new guidelines were released.

Certain trading platforms, certain trading platforms, and the Crypto Assets Innovation Committee and Blockchain Association support this letter, which claims that these fees will undermine the U.S. Crypto Assets, artificial intelligence, and digital payment industries.

TRUMP-4.62%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
BoredApeResistancevip
· 08-17 23:33
The bank is really bad.
View OriginalReply0
HodlKumamonvip
· 08-17 14:18
Data should be freely released.
View OriginalReply0
SybilAttackVictimvip
· 08-15 05:50
The bank is too shady.
View OriginalReply0
CoinBasedThinkingvip
· 08-15 05:48
TradFi is causing trouble.
View OriginalReply0
BlockchainBardvip
· 08-15 05:27
The bank wants to Be Played for Suckers again.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)