Fintech and Crypto dey beg Trump make e ban Bank Data Fees
One coalition wey Gemini, Robinhood, Crypto Council for Innovation plus Blockchain Association dey lead write President Trump letter on August 13, dem dey beg am make e block banks from charging fees to access bank data. Dem warn say dis kain charges go make cost high, limit wetin consumers fit choose plus fit force money transfer products for big platforms to shut down. The group talk say dis data fees go weak US position for digital assets, go stoppin innovation for AI and payments, plus go make big banks get more control for market. Dem ask Trump make e use im executive power to stop big banks from making dis kind fees, mention say trustworthy data sharing na key for safe crypto on-ramps. Banking groups wey American Bankers Association dey lead argue say ban on fees go spoil free market pricing and give fintech firms chance to enjoy bank security systems for free. Before now, Biden government try make bank data access free without charges but industry no gree, so current fee rules dey still dey while new guidelines dey on the way. For another side, Senator Elizabeth Warren raise concern about possible conflict because of Trump connection to one USD1 stablecoin.
Neutral
Even though di coalition push to block bank data access fees dey support di infrastructure for crypto on-ramps and fit make long-term adoption better, di immediate impact for trading volumes and prices no too much. Di ongoing regulatory debate dey add wahala, but unless dem ban am or put fees, market conditions still more or less the same. Historically, similar regulatory tins don bring small changes in how people feel without making price waka well well.