Donald Trump · U.S. · US Congress · CoinDesk
Bank group sues U.S. regulator over granting crypto trust charters
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A banking group has sued the U.S. agency that issues federal bank charters, accusing it of exceeding its legal powers in granting national trust-bank status to crypto firms.
Key facts
- UPDATE (Oct. 2, 2026, 23:30 UTC): Adds BPI statement
- Last month, the OCC also granted a full-fledged national bank charter to OpenReserve Bank, a blockchain bank funded by several crypto investors, including Andreessen Horowitz, Jump Capital
- The ICBA is one of the largest banking advocacy organizations in the U.S., typically representing smaller institutions
- Asked for comment by CoinDesk, an OCC spokesperson said the agency "does not comment on litigation
Summary
The U.S. agency with the power to grant national trust bank charters, the Office of the Comptroller of the Currency, has been sued by a banking group for using that authority to bring several crypto firms into the banking system. The ICBA sued the OCC, saying the influx of digital asset trust banks aren't being held to the same standards as traditional banks and are creating a competitive disadvantage.
The ICBA is one of the largest banking advocacy organizations in the U.S., typically representing smaller institutions.