The Independent Community Bankers of America (ICBA) has sued the Office of the Comptroller of the Currency (OCC), challenging the regulator’s approval of trust bank charters for crypto companies. According to the claim cited in the report, the OCC allowed several crypto firms to establish digital asset trust banks without being held to the same regulatory standards as traditional banks. ICBA argues that this creates a competitive disadvantage for conventional banking institutions. The development was reported by CoinDesk and carried by Odaily.
The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC), opposing the agency’s approval of trust bank charters for crypto companies.
ICBA said the OCC approved several crypto firms to set up digital asset trust banks, allowing those institutions to operate without following the same regulatory standards applied to traditional banks. ICBA said that creates a competitive disadvantage.
The report was cited from CoinDesk.
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