A major US community banking group has sued the Office of the Comptroller of the Currency (OCC), challenging the regulator’s decision to make it easier for cryptocurrency companies to obtain national trust bank charters.
The Independent Community Bankers of America (ICBA) filed the lawsuit on Friday in the US District Court for the District of Columbia. The group is asking the court to revoke an OCC rule and related guidance that facilitate applications from crypto companies seeking national trust bank charters.
The ICBA argues that the OCC exceeded its regulatory authority by extending the chartering route to companies whose businesses are primarily focused on cryptocurrency products.
The banking group also contends that granting national trust charters to crypto firms could give them greater legitimacy without requiring safeguards comparable to those imposed on traditional banks.
The dispute comes as cryptocurrency companies seek greater access to the US financial system. The OCC has received applications from several firms looking to operate under national trust charters as the digital-asset industry expands its relationships with traditional financial institutions.
The OCC’s licensing records show that a number of digital-asset companies have submitted applications for national bank or trust charters during 2026, including Payward, the parent company of crypto exchange Kraken, and other firms.
The regulator has already granted conditional preliminary approval to some crypto-related applications. In August, the OCC approved a national trust charter application linked to World Liberty Financial, the cryptocurrency venture associated with US President Donald Trump and his family.
The chartering debate has attracted wider attention from banking and financial regulators. Critics have raised questions about whether companies operating under trust charters should face the same requirements and protections as conventional banks.
The legal challenge will now test the scope of the OCC’s authority to approve these types of charters. The court’s eventual decision could influence how cryptocurrency companies gain access to the US banking system and how regulators oversee their activities.
For now, the lawsuit does not prevent existing charter applications from moving through the regulatory process. The case is expected to add another layer of legal and regulatory scrutiny to the growing relationship between the US banking sector and the cryptocurrency industry.