ICBA challenges OCC crypto bank charters
Share
- The Independent Community Bankers of America has sued the OCC over crypto-focused national trust bank charters.
- The lawsuit challenges a March 2026 rule and Interpretive Letter No. 1176.
- ICBA says crypto firms should face safeguards and standards similar to traditional banks.
The Independent Community Bankers of America has sued the OCC over crypto-focused national trust bank charters.
The lawsuit challenges the OCC’s March 2026 final rule and Interpretive Letter No. 1176.
“American consumers reasonably expect a federally chartered bank to carry federal protections,” ICBA President and CEO Rebeca Romero Rainey said in a statement.
The ICBA argues the OCC lacks authority to charter non-fiduciary crypto firms as national trust banks.
“ICBA is asking the court to return the OCC to its statutory limits,” Rainey said.
The complaint says the OCC has approved or conditionally approved 21 national trust bank charters.
At least 13 of those 21 entities are crypto companies, according to the ICBA complaint.
The initiative marks a direct shift toward light-touch federal oversight across emerging digital asset markets.
