JPMorgan Fee Hike Sparks Fears of New Anti-Crypto Tactics
Despite talk of a thaw between banks and the crypto sector, tensions are flaring again—this time in a way industry insiders are calling “Operation Chokepoint 3.0.”
According to Andreessen Horowitz (a16z) partners, large U.S. banks are no longer relying on direct shutdowns to pressure crypto and fintech firms. Instead, they’re introducing steep data-access fees, slowing transfers, and selectively cutting off services to platforms they view as competition.
JPMorgan’s new pricing model for data aggregators has become a flashpoint. The fees, set to take effect later this year, could hit a range of fintechs and crypto-linked services, from Venmo to Coinbase.
Critics warn the costs may be passed on to consumers or force smaller firms to scale back.
Ripple CTO David Schwartz has labeled the approach “indirect regulation” and “a despicable evil,” likening it to the pressure tactics seen in earlier chokepoint operations.
The renewed friction comes just as the Trump administration is pushing a pro-crypto agenda. Its “Golden Age of Crypto” plan aims to encourage innovation and attract institutional capital back to U.S. markets.
Yet, with banking giants tightening the screws through policy changes, the path toward broader integration of crypto into traditional finance may be bumpier than expected.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
