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Benzinga
Benzinga
Business
Namrata Sen

JPMorgan's Plan To Impose Fees On Data Aggregators Could 'Cripple' The Crypto Industry, Say Execs: 'This Would Put Everyone Out Of Business'

JPMorgan JPM United States Crypto JPMorgan Chase fintech ANd NYSE
Bitcoin,On,A,Stack,Of,Coins,With,Jpmorgan,Logo,On

JPMorgan Chase & Co.‘s (NYSE:JPM) plan to introduce fees for transactions involving cryptocurrencies and third-party services could significantly cripple the fintech industry, say experts.

What Happened: JPMorgan Chase is considering charging data aggregators, such as Plaid and MX, every time a customer transfers funds from their JPMorgan Chase account to a crypto account or a third-party service like Robinhood (NASDAQ:HOOD).

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