Chokepoint3
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šØ Chokepoint 3.0? Crypto Faces a New Threat from Big Banks
š¦ In a bold new statement, a16z partners have raised alarms over what they call "Operation Chokepoint 3.0" ā a modern push by major U.S. banks to strangle the crypto and fintech sectors through excessive fees and restricted access.
š According to James da Costa, Alex Rampell, Angela Strange, and David Haber:
āBanks like JPMorgan are charging insane fees to access data or move money, and even blocking apps they donāt like.ā
ā ļø Crypto firms like Coinbase, Venmo, and Robinhood could face mounting costs ā with users ultimately paying the price.
š¢ Ripple CTO David Schwartz called this behavior ādespicable evilā and likened it to indirect regulation without due process.
š But thereās another side to the storyā¦
With Donald Trump now the 47th U.S. President, his administration is aiming to bridge the divide between TradFi and crypto. The recently released āGolden Age of Cryptoā report lays out recommendations to promote innovation and adoption.
š As Wall Street giants take note, the tide may be turning ā but the question remains:
#Crypto #Chokepoint3 #Blockchain #CryptoRegulation #a16z
https://coingape.com/major-u-s-banks-now-pushing-chokepoint-3-0-to-kill-crypto-a16z-partner/?utm_source=bnb&utm_medium=coingape
š¦ In a bold new statement, a16z partners have raised alarms over what they call "Operation Chokepoint 3.0" ā a modern push by major U.S. banks to strangle the crypto and fintech sectors through excessive fees and restricted access.
š According to James da Costa, Alex Rampell, Angela Strange, and David Haber:
āBanks like JPMorgan are charging insane fees to access data or move money, and even blocking apps they donāt like.ā
ā ļø Crypto firms like Coinbase, Venmo, and Robinhood could face mounting costs ā with users ultimately paying the price.
š¢ Ripple CTO David Schwartz called this behavior ādespicable evilā and likened it to indirect regulation without due process.
š But thereās another side to the storyā¦
With Donald Trump now the 47th U.S. President, his administration is aiming to bridge the divide between TradFi and crypto. The recently released āGolden Age of Cryptoā report lays out recommendations to promote innovation and adoption.
š As Wall Street giants take note, the tide may be turning ā but the question remains:
#Crypto #Chokepoint3 #Blockchain #CryptoRegulation #a16z
https://coingape.com/major-u-s-banks-now-pushing-chokepoint-3-0-to-kill-crypto-a16z-partner/?utm_source=bnb&utm_medium=coingape
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