ICBA Sues OCC Over Expanded Crypto Charters

The Independent Community Bankers of America (ICBA) has filed a complaint in the US District Court for the District of Columbia, alleging that the Office of the Comptroller of the Currency (OCC) has improperly expanded the scope of national trust bank charters to include cryptocurrency companies. The ICBA claims that Congress did not intend for the national trust charter to be used as a 'side door' into banking for non-traditional companies.

The OCC's rule, which allows it to issue national trust bank charters to cryptocurrency and other non-traditional companies, has been in effect since October 2, 2026. The ICBA argues that this expansion of the charter's scope violates federal law and should be blocked. The group is seeking to have the OCC's rule declared unlawful.

The ICBA's complaint alleges that the OCC is giving national charters to cryptocurrency companies that allow them to engage in banking activities beyond the custody and other fiduciary services typically performed by trust banks. The ICBA claims that this is an improper expansion of the charter's scope and a violation of federal law.