U.S. Banks Accused of Launching “Chokepoint 3.0” to Target Crypto and Fintech

Andreessen Horowitz partner Alex Rampell warns U.S. banks are implementing “Chokepoint 3.0,” raising fees, restricting access, and blocking apps to suppress fintech and crypto platforms like Coinbase and Robinhood. Institutions such as JPMorgan are allegedly increasing the cost of money transfers and access to account data, potentially stifling competition and innovation in the crypto sector. Industry leaders call for regulatory action to protect consumer choice.