More than 80 leaders from the crypto and fintech industries have reached out to Donald Trump, requesting that banks be prohibited from charging fees for access to client data. In their view, such fees will limit consumer choice and could undermine the operation of innovative products, including crypto exchanges, digital payment platforms, and AI services.

The letter was signed by, among others, Gemini and Robinhood, as well as industry associations. The authors emphasized that access to banking data is key to ensuring convenient and secure fiat pathways for the crypto ecosystem.

Banking associations sharply criticized the initiative, calling it an attempt at 'government price control.' They accused crypto companies of wanting to use banking infrastructure for free. The conflict has intensified amid the Trump administration's decision to maintain the 'open banking' rule from the Biden era, which allows customers to share banking data with fintechs for free.

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