The Independent Community Bankers of America has filed a lawsuit against the US Office of the Comptroller of the Currency, arguing that the regulator exceeded its legal authority by allowing cryptocurrency companies to pursue limited national trust bank charters.
What the lawsuit alleges
The ICBA filed the case on Friday in the US District Court for the District of Columbia. The banking group is asking the court to require the OCC to operate within what it describes as the limits set by Congress.
At the center of the dispute is the OCC’s approval, or conditional approval, of applications from crypto companies seeking national trust bank charters. The ICBA argues that these decisions give cryptocurrency firms the standing and credibility associated with a federal bank charter without subjecting them to safeguards that apply to insured commercial banks.
In a statement, ICBA President and CEO Rebeca Romero Rainey said the OCC had allowed companies to use the national trust charter to conduct substantial non-fiduciary activities. She argued that Congress did not establish the charter as an alternative route into the banking system for crypto companies.
The group specifically pointed to obligations and protections it says are applicable to insured depository institutions, including Community Reinvestment Act requirements, consolidated supervision, capital and liquidity standards, and Federal Deposit Insurance Corporation insurance.
Why trust charters differ from commercial banks
A national trust bank charter is not the same as a conventional commercial bank charter. According to Cointelegraph, companies operating under the trust charters cannot accept deposits or make loans.
That distinction is central to the case. The charter can provide a form of federal recognition while leaving the companies outside some of the rules and protections associated with deposit-taking banks. The ICBA’s complaint challenges whether the OCC can use this framework for crypto firms conducting activities it considers substantial and non-fiduciary.
The OCC was asked for comment on the lawsuit but had not responded by the time of publication.
Crypto charter applications expand
Cointelegraph reported in August that, under President Donald Trump and OCC head Jonathan Gould, the agency had approved or conditionally approved a number of applications from cryptocurrency companies seeking trust charters to broaden their services in the United States.
The lawsuit therefore places a broader regulatory question before the court: how far the OCC can go in authorizing specialized bank charters for digital-asset companies, and what requirements should accompany that status. The case also highlights the continuing difference between federal charter recognition and the protections attached to insured depository institutions.
Current market picture
Moneyiar market data at 09:44 on October 5, 2026, showed Uniswap (UNI) at $9.0292191241, down 0.1% over 24 hours and up 1.81% over seven days. At 09:43, Sui (SUI) was $1.2336445031, rising 4.71% in 24 hours and 5.6% over seven days.
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