These type of 4D chess plays are the quiet whispers of how the crypto industry could change.
Mostly all innovation comes from small companies building something new by aggregating existing services. (Think of all the APIs needed to power any app)
If it becomes too expensive to even start creating products, no innovation is going to come.
To an extent we experience this building Blormmy cause we have to pay X, a monthly $5000 fee for the listener API. We also use other APIs but thank god the don’t charge an excessive amount.
So if it becomes too expensive to build anything, due to gatekeeping permissions, the collective industry gets held back.
JPMorgan and the banksters are trying to kill fintech and crypto companies. They want to take away your right to access your banking data for FREE via-third party apps like @Plaid and instead charge you and fintechs exorbitant fees to access YOUR DATA. This will bankrupt fintechs that help you link your bank accounts to crypto companies like @Gemini, @coinbase, and @krakenfx so you can easily fund your account w/ fiat to buy bitcoin and crypto.
As of today, the "Open Banking Rule" developed pursuant to Section 1033 of the Consumer Financial Protection Act gives you the right to access you banking data via 3rd party apps. The banksters are suing the CFPB to vacate the Open Banking Rule and end the open banking era. This is the kind of egregious regulatory capture that kills innovation, hurts the American consumer, and is bad for America.
Jamie Dimon and his cronies are trying to undercut President Trump's mandate to make America the pro innovation and the crypto capital of the world. We must fight back! 🇺🇸
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