The encryption industry calls on President Trump to prevent JPMorgan Chase from imposing 'punitive taxes' on data access

According to CoinDesk, ten major fintech and cryptocurrency industry associations have sent a letter to US President Trump urging him to prevent JPMorgan from imposing high fees on customer bank data access. The industry association warned that this move by JPMorgan Chase could lead to the "de banking" of millions of Americans and threaten the popularity of stable currencies and self managed wallets. The letter pointed out that financial data belongs to the American people, not banks. The letter calls on the White House to take action before July 29th to defend consumers' right to free access to bank data and maintain the financial innovation environment.