American banks are said to target Coinbase and Robinhood star-news.press/wp

Industry experts have sparked concerns about the tactics that they alleged to be hired by American banks to strangle the growth of the main encryption platforms such as Coinbase and Robinhood.

Alex Rambelle, the general partner at Andressen Horowitz (A16Z), expressed his concerns in a news message on July 31.

American banks accused of providing CokePoint 3.0

Ramil noted that banks, including industry giants such as JPMorgan, may deliberately inflame transaction fees. According to him, these institutions also limit access to banking services to undermine the encryption sector.

He explained that a $ 10 fee on transferring $ 100 to an encryption account can discourage many users from follow -up.

“If he suddenly costs him $ 10 to transfer $ 100 to a Coinbase or Robinhood account, you may do fewer people to do so. Or if that costs $ 10 to get a cheaper loan than Fintech, you may have to take one more than JPM,” I mentioned.

He also indicated that banks may go further from preventing consumers from linking their bank accounts to encryption services or Fintech. This would compel them to stay dependent on traditional financial products.

Ramebel has been coated with the controversial “CokePoint process”, an initiative from the Biden era, which aims to restrict the access of encryption companies to banking services.

However, this time, he says, the initiative appears to be driven by banks themselves.

“Jpmorganchase is a company worth $ 800 billion. Don’t make mistakes: this is not a new revenue stream. It is related to strangulation. If it fades with this, each bank will follow.”

It is worth noting that Tyler Winkefus, co -founder of Josoy, previously echoed these concerns and warned that banks are actively working to undermine the encryption industry.

He also revealed that his criticism led to the suspension of JPMorgan efforts to rebuild banking relations with Gemini.

Despite these efforts to reduce the growth of the encryption industry, platforms like Coinbase and Robinhood continue to expand.

Coinbase plans to introduce distinctive stocks, prediction and derivative markets for customers in the United States, indicating his ambition to become a full financial exchange.

Meanwhile, Robinhood is expanding its services to more than 200 symbolic stocks and investment funds circulating in 31 European countries. The platform provides commission -free support and profit support to attract users in these areas.

The American regulatory environment is also favorable for encryption, as the Securities and Stock Exchange Committee (SEC) recently revealed a set of supportive regulations.

These developments indicate that the industry may still have a field of growth, despite the ongoing challenges of traditional financial institutions.