Over 80 executives from the crypto and fintech sectors have urged former President Donald Trump to stop banks from charging fees for accessing customer data, arguing that such fees hinder consumer choice and threaten competition. In a letter sent to Trump, industry leaders asserted that large banks impose high 'account access' fees to maintain their market dominance, thereby preventing consumers from connecting to superior financial products. Notable supporters of the letter include the crypto exchange Gemini and trading platform Robinhood, as well as various crypto advocacy groups. The letter emphasizes that these fees could severely impact the growth of the US crypto and digital payment industries. The executives contend that maintaining open access to banking data is crucial for innovation in the digital asset sector. In contrast, banking organizations criticized the letter, claiming it advocates for government price fixing and undermines free market principles. They argue that crypto companies should not expect to access resources for free while charging their own fees. This conflict highlights ongoing tensions between the banking sector and crypto firms regarding data access and regulation.

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