Banking fees target Bitcoin adoption: Unseen Fees Jeopardize DeFi Growth
Rising institutional fees hinder crypto investing. High transaction costs slow blockchain scalability, impacting DeFi future. JPMorgan's Banking Data Fees: A Threat to Crypto Adoption and DeFi Growth? 📌 The Looming Battle Over Banking Data Access 💱 The future of how fintech companies, especially those in the crypto space, access consumer banking data in the US is under intense scrutiny. The core issue revolves around who should control – and ultimately pay for – this access. A recent dispute has erupted following claims from Gemini co-founder Tyler Winklevoss, who alleges that JPMorgan Chase & Co. is actively attempting to stifle fintech and crypto innovation. ⚖️ Winklevoss ignited the debate with an X thread , asserting that JPMorgan is seeking to eliminate free access to banking data via third-party apps like Plaid. The bank reportedly plans to implement si...