Despite talk of a thaw between banks and the crypto sector, tensions are flaring again—this time in a way industry insiders are calling “Operation Chokepoint 3.0.”
According to Andreessen Horowitz (a16z) partners, large U.S. banks are no longer relying on direct shutdowns to pressure crypto and fintech firms. Instead, they’re introducing steep data-access fees, slowing transfers, and selectively cutting off services to platforms they view as competition.
JPMorgan’s new pricing model for data aggregators has become a flashpoint. The fees, set to take effect later this year, could hit a range of fintechs and crypto-linked services, from Venmo to Coinbase.
Critics warn the costs may be passed on to consumers or force smaller firms to scale back.
Ripple CTO David Schwartz has labeled the approach “indirect regulation” and “a despicable evil,” likening it to the pressure tactics seen in earlier chokepoint operations.
The renewed friction comes just as the Trump administration is pushing a pro-crypto agenda. Its “Golden Age of Crypto” plan aims to encourage innovation and attract institutional capital back to U.S. markets.
Yet, with banking giants tightening the screws through policy changes, the path toward broader integration of crypto into traditional finance may be bumpier than expected.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/jpmorgan-fee-hike-sparks-fears-of-new-anti-crypto-tactics/