PANews reported on August 15th that, according to Cointelegraph, over 80 executives from the cryptocurrency and fintech industries jointly wrote a letter to US President Donald Trump, accusing banks of charging fees for access to customer data, claiming this stifles consumer choice. The letter accuses large banks of attempting to "maintain their market position by imposing exorbitant new 'account access' fees, which will prevent consumers from connecting their accounts to better financial products of their choice." The Biden administration had previously attempted to make bank customer data freely accessible, but opposition from the banking industry hindered its implementation. US President Trump subsequently stated that the fee rules would remain in effect until new guidance is issued.

Cryptocurrency exchange Gemini, trading platform Robinhood, and cryptocurrency lobbying groups the Crypto Innovation Council and the Blockchain Association backed the letter, which claims the fees will cripple the U.S. cryptocurrency, artificial intelligence, and digital payments industries.