On October 21st, a number of crypto institutions, fintech companies and retail industry organizations in the United States are joining forces to defend open banking, warning in a joint letter that attempts by large banks to charge for data access could cut off the financial system from digital wallets and stablecoins.
A coalition of institutions including the Blockchain Association, the Crypto Innovation Council, the National Association of Convenience Stores, and the National Retail Federation has written to the Consumer Financial Protection Bureau (CFPB) asking the regulator to retain key protections in the proposed Rule 1033, which would give consumers the right to freely share financial data with third-party service providers, enabling them to integrate bank accounts with crypto exchanges, stablecoin wallets, and other fintech platforms.
The US Crypto Industry Alliance has sent a letter to the CFPB opposing big banks' charging for data access
2025-10-21 09:17:44
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