Scrolling to American Banker: The Independent Community Bankers Association (ICBA) of the United States has sued the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for the District of Columbia, seeking to overturn rules and related interpretive letters issued in recent years that granted “national trust bank” charters to cryptocurrency companies. The group argues that the actions exceed the authority granted by the National Bank Act.
During the Trump administration, the OCC approved or conditionally approved about 21 trust banks, at least 13 of which were related to crypto. After the GENIUS Act, trust charters became an important pathway for stablecoin issuers to qualify for federal eligibility. The ICBA emphasized that these charters lack protections such as deposit insurance provided to traditional banks, and they may also compete with community banks for deposits and business. The OCC spokesperson declined to comment on the pending litigation.
The conflict between community banks and crypto trust charters has finally moved from public opposition to a formal lawsuit.
#OCC #稳定币 #Regulation
During the Trump administration, the OCC approved or conditionally approved about 21 trust banks, at least 13 of which were related to crypto. After the GENIUS Act, trust charters became an important pathway for stablecoin issuers to qualify for federal eligibility. The ICBA emphasized that these charters lack protections such as deposit insurance provided to traditional banks, and they may also compete with community banks for deposits and business. The OCC spokesperson declined to comment on the pending litigation.
The conflict between community banks and crypto trust charters has finally moved from public opposition to a formal lawsuit.
#OCC #稳定币 #Regulation
