ICBA Challenges OCC's Crypto Chartering Rule in Washington DC Lawsuit

The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC) and Comptroller Jonathan Gould in Washington DC federal court. The suit targets a key 2026 chartering rule and Protego's 2021 approval.

The OCC has granted 21 national trust bank charters to cryptocurrency firms, with 13 of those approvals going to crypto companies. ICBA is asking the court to vacate the chartering rule, published in the Federal Register, and unwind one of the charters outright.

The complaint, ICBA v. OCC, was filed in the U.S. District Court for the District of Columbia under case number 1:26-cv-03441. ICBA is challenging the legal basis for the wave of national trust bank charters granted to cryptocurrency firms.

The OCC's chartering rule has allowed crypto firms to bypass traditional bank regulations. ICBA argues that this rule is unfair and undermines the banking system. The lawsuit seeks to address these concerns and ensure that crypto firms are held to the same standards as traditional banks.