The U.S. Cryptocurrency Industry Alliance has expressed its opposition to data access fees imposed by major banks in a letter to the Consumer Financial Protection Bureau. This action underscores the growing tensions between the cryptocurrency sector and traditional financial institutions. The Alliance argues that these fees create barriers for new entrants and stifle innovation within the financial technology landscape. They emphasize that limiting access to data undermines the potential for a more competitive and equitable financial system. The letter calls for the CFPB to scrutinize these fees and consider the broader implications for the cryptocurrency industry.
