JPMorgan’s Plan To Impose Fees On Data Aggregators Could ‘Cripple’ The Crypto Industry, Say Execs: ‘This Would Put Everyone Out Of Business’ – Robinhood Markets (NASDAQ:HOOD), Affirm Holdings (NASDAQ:AFRM)

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JPMorgan Chase & Co.‘s 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 HOOD.

Crypto firms and fintechs commonly use these aggregators to access customer accounts held at major financial institutions such as JPMorgan Chase.

Check out the current price of JPM stock here.

Anonymous industry executives have expressed concerns that this could make it…