Over 80 leaders from major crypto firms have called on Donald Trump to prevent new fees imposed by banks for access to third-party data. These fees pose a threat to innovation and competition in the crypto industry.
Issue of New Bank Fees
More than 80 crypto executives have appealed to Donald Trump to prevent major U.S. banks from imposing new data access fees. According to industry leaders, these fees jeopardize innovation and competition in the crypto and DeFi sectors.
Impact on Cryptocurrency Market
Market stakeholders warn that the proposed fees could significantly affect the DeFi market and related sectors. Increased operational costs may deter investment and development in the U.S., impacting startups and established crypto firms.
General Consequences for DeFi
These changes may also impact key cryptocurrencies such as BTC and ETH, which are crucial for DeFi protocols. Rising costs could create barriers to user access and innovation, ultimately affecting the cryptocurrency market dynamics.
Thus, the statements from crypto executives emphasize the importance of regulating access to banking data and its implications for the industry and consumers in an increasingly digital economy.
