Bank group sues OCC over crypto trust charters
The Independent Community Bankers of America (ICBA) has sued the Office of the Comptroller of the Currency (OCC) in federal court, accusing the regulator of overstepping its authority by granting national trust charters to cryptocurrency firms. The suit argues the OCC's expansion of its chartering power goes beyond what the National Bank Act authorizes.
The filing was made in the U.S. District Court for the District of Columbia, with ICBA representing community banks that typically hold less than $10 billion in assets. The case adds a banking-industry challenge to the regulatory path crypto custodians and trust companies have used to operate as federally chartered institutions.
No ruling has been issued, and the OCC has not yet responded publicly.
CoinDesk
