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

JPMorgan's Fee Plan: JPMorgan Chase plans to introduce fees for transactions involving cryptocurrencies and third-party services, which experts warn could severely impact the fintech industry by making it financially unfeasible for consumers to use stablecoins and crypto.

Industry Reactions: Industry executives criticize JPMorgan's move as a tactic to stifle competition and assert control over consumer data, leading to concerns about potential disruptions in the fintech sector and a selloff of related stocks following the announcement.