The Bank Policy Institute, which represents major Wall Street banks, is considering suing the U.S. Office of the Comptroller of the Currency over its move to ease federal trust bank charters for crypto and fintech firms, as Comptroller Jonathan Gould says national trust banks already hold more than $2 trillion in digital asset custodial activity. Companies including Circle, Ripple, Paxos, Crypto.com, and Trump linked World Liberty Financial have applied for or received conditional approval for these national trust charters, and Kraken recently became the first crypto bank with a Federal Reserve master account. Traditional banking groups such as the American Bankers Association and the Independent Community Bankers of America warn that the OCC's approach creates a two tier system, risks systemic instability, and should slow until digital asset regulations are clearer in the wake of the FTX and Celsius failures.

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