US Banking Group Sues OCC Over Crypto Trust Bank Charters

The Independent Community Bankers of America has sued the OCC, arguing that the regulator lacks legal authority to grant national trust bank charters to crypto firms.
ICBA CEO Rebeca Romero Rainey said Congress did not create the national trust charter as a "side door into the banking system for crypto firms." The OCC has cleared trust charters for crypto companies including Coinbase, Circle and Crypto.com, as well as Trump-linked World Liberty Financial. The OCC said it does not comment on litigation.