Odaily Planet Daily News: On Friday, the Independent Community Bankers of America (ICBA) filed a lawsuit with the U.S. District Court for the District of Columbia against the Office of the Comptroller of the Currency (OCC), challenging its authority to grant national trust bank charters to crypto businesses. The ICBA asked the court to vacate the final rule and interpretive letter No. 1176 dated March 2, 2026.

ICBA President and CEO Rebeca Romero Rainey said the relevant charters give crypto businesses the credibility of being granted federal bank charters, without having to comply with requirements such as federal deposit insurance, capital and liquidity standards, and (the Community Reinvestment Act). ICBA also called for the rescission of Protego Holdings’ conditional charter, saying its governance and risk controls are inadequate.

This lawsuit involves digital asset companies such as Circle, Ripple, Paxos, Fidelity, BitGo, and Kraken’s parent company Payward, Block, and World Liberty Financial that have applied for or received OCC licenses. Senator Elizabeth Warren has separately accused the relevant approvals of being unlawful, and the industry has raised objections; the OCC is also planning to complete its stablecoin rules under the (GENIUS Act) before November. (Decrypt)