Bitcoin News Today: Winklevoss Accuses JPMorgan of Anti-Competitive Data Access Policies

Tyler Winklevoss, co-founder of Gemini, has intensified his public challenge against JPMorgan’s approach to cryptocurrency and fintech innovation, accusing the banking giant of retaliating against his firm and stifling competition through restrictive data access policies and excessive fees. Winklevoss alleged that JPMorgan suspended Gemini’s re-onboarding process after he criticized the bank’s recent strategy to charge third-party fintech platforms for accessing customer data. He described the move as an “anti-competitive, rent-seeking” tactic designed to maintain control over financial infrastructure and suppress crypto adoption [2].

The dispute centers on JPMorgan’s policy changes, which impose fees on platforms like Plaid for retrieving customer banking information. Winklevoss argues that these charges create artificial barriers for fintech companies, particularly smaller firms reliant on seamless data integration to offer streamlined crypto trading services. He framed JPMorgan’s actions as part of a broader effort by traditional banks to “bankrupt fintechs” and limit consumer access to digital assets [5]. The bank, meanwhile, has cited data security and financial stability as justifications for its fee structure, though critics counter that open data access is essential for fostering innovation [1].

The conflict has broader regulatory and political implications. JPMorgan and other major banks are reportedly seeking to roll back open banking rules under the CFPB’s Section 1033, which mandates free data sharing between banks and third-party services. Winklevoss criticized this as an attempt to “silence” crypto advocates and undermine efforts to position the U.S. as a global leader in digital finance. His remarks align with his political support for President Donald Trump’s pro-crypto agenda, which he claims is being obstructed by institutional resistance to blockchain innovation [3].

Industry observers highlight a growing divide between traditional financial institutions and the crypto sector over data governance and competition. Winklevoss emphasized that JPMorgan’s tactics risk stifling U.S. innovation and harming consumer choice by limiting access to crypto services. The Gemini-JPMorgan rift underscores a larger struggle over the balance of power in financial systems, with open banking rules at the center of regulatory debates [5]. JPMorgan has not publicly commented on the accusations, leaving the dispute in a legal and regulatory limbo.

The fallout highlights the challenges crypto firms face in securing traditional banking partnerships amid regulatory uncertainty. Winklevoss’s public campaign has amplified concerns about selective de-banking of crypto businesses and raised questions about fair competition. As the U.S. grapples with defining its stance on digital finance, the dispute may influence future policies on data access and financial infrastructure [5].

Source: [1] [Winklevoss Calls Out JPMorgan Over Banking Backlash](https://99bitcoins.com/news/bitcoin-btc/winklevoss-says-jpmorgan-blocked-gemini-over-open-banking/) [2] [Tyler Winklevoss Says JPMorgan's Dimon Paused Onboarding Gemini](https://www.bloomberg.com/news/articles/2025-07-25/tyler-winklevoss-says-jpmorgan-s-dimon-paused-onboarding-gemini-over-criticism) [3] [Billionaire Tyler Winklevoss to JP Morgan CEO Jamie Dimon](https://timesofindia.indiatimes.com/technology/social/we-will-never-stop-fighting-for-billionaire-tyler-winklevoss-to-jp-morgan-ceo-jamie-dimon-for-rejecting-his-crypto-exchange/articleshow/122920133.cms) [4] [Winklevoss Accuses JPMorgan of Retaliation Over Criticizing Bankster War](https://cryptoslate.com/winklevoss-accuses-jpmorgan-of-retaliation-over-criticizing-bankster-war-on-open-banking/) [5] [JPMorgan Accused of Silencing Crypto Advocates With Hidden De-Banking Tactics](https://news.bitcoin.com/jpmorgan-accused-of-silencing-crypto-advocates-with-hidden-de-banking-tactics/)