Industry experts have expressed concern about the strategy allegedly working by American banks to harsh girls from major crypto platforms such as coinbase and Robinhood.
Alex Rampael, General Partner of Andresson Horovitz (A16Z) expressed his concern in a newspaper on 31 July.
American banks accused Operation Operation Chokpoint 3.0
Rampael says that industries like JP Morgan can increase bank transactions including giants. For that, these institutions are also limiting banking access to reduce the Crypto region.
He explained that the $ 10 fee on transfer of $ 100 into Crypto account prevents many users from processing.
He said, “If it suddenly costs $ 10 to take $ 10 to a coinbase or Robinhood account, perhaps less people will do so. Craper one from JPM,” he said.
He also states that banks can prevent consumers from linking their bank accounts with crypto or fintech services. This will create relief on traditional financial products.
Rampael preferred these action for the controversial “Operation Chokpoint”, a biden-evidence that aims to ban crypto companies, agree to banking.
However, this time, they argue, the initiative appears to be operated by banks.
“Jpmorganchase is a $ 800 billion company. Do not make any mistake: it’s not about a new revenue stream. Argued.
No, Mithun’s co-finance taunler Vinklevos, first echoed these conservation and warns that banks are actively working to understand the crypto industry.
He further revealed that his criticism stopped JP Morgan’s efforts to rebuild banking relations with Mithun.
Despite these efforts to curb the glory of the Crypto industry, to expand platforms such as the coinbase and Robinhood Containy.
Coinbase planned to introduce token shares for American customers, predicted markets and derivatives, indicating its ambition to make a full-free financial exchange.
Meanwhile, Robinhod is expanding its services up to more than 200 token shares and ETFs in 31 European countries. The platform is providing commission-free trade and dividend assistance to attract users in these areas.
The US regulator environment also remains favorable for Crypto, the Securities and Exchange Commission (SEC) recently unveiled a series of pro-crypto regulators.
These demons suggest that despite the challenges from traditional financial institutions, the industry may still have a place to grow.
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