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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteThe Crypto Council for Innovation (CCI) has come out in support of the Office of the Comptroller of the Currency’s national trust charter approach after the Independent Community Bankers of America (ICBA) sued the regulator. CCI says the lawsuit resists innovation and competition. ICBA argues the OCC exceeded its authority by allowing national trust banks to conduct substantial non-fiduciary activities. Those are opposing advocacy and legal positions; the court has not resolved the dispute.
What CCI and ICBA say
CCI CEO Ji Hun Kim called the lawsuit a “clear attempt to resist national trust charters, payments innovation, and competition in financial services,” according to Cointelegraph’s October 5, 2026 report.
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ICBA president and CEO Rebeca Romero Rainey defended the lawsuit, saying Congress did not create the national trust charter as a “side door” into the banking system. She argued that crypto firms should not gain the credibility of a federal bank charter while avoiding obligations that apply to insured depository institutions. These statements describe the groups’ competing positions, not findings by a court.
What the lawsuit challenges
ICBA filed its complaint on October 2, 2026, in the U.S. District Court for the District of Columbia, naming the OCC and Comptroller of the Currency Jonathan V. Gould. The complaint invokes the Administrative Procedure Act and challenges the OCC’s National Bank Chartering rule and Interpretive Letter No. 1176. It also addresses an approval involving Protego. ICBA asks the court for declaratory and injunctive relief. The complaint establishes what ICBA alleges and requests; it does not establish that the allegations are correct.
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ICBA’s legal theory
ICBA argues that national trust charters should cover fiduciary trust activities and related work, and that the OCC went beyond its statutory authority by approving charters for companies with substantial non-fiduciary digital-asset activities. It contends that the agency’s rule and interpretive approach conflict with the National Bank Act and the Administrative Procedure Act.
The complaint also alleges that these charters can preempt some state regulation without imposing the same requirements that apply to insured depository institutions. Whether the OCC has that authority, and what rules should attach to these charters, are questions at the heart of the case—not settled outcomes.
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Why national trust charters are disputed
The disagreement turns on several related questions:
- Scope of authority: How far the OCC’s statutory authority extends when chartering national trust banks.
- Type of activity: Whether a company’s proposed work is fiduciary trust business or substantial non-fiduciary activity.
- Safeguards: Which requirements should apply to a national trust charter compared with an insured depository bank.
- Effects on the market: Whether broader access to federal charters supports competition or weakens consumer protections.
CCI emphasizes innovation and competition. ICBA emphasizes statutory limits and the obligations associated with banking. In a separate statement, Senator Elizabeth Warren warned that national trust companies acting like full-service banks without equivalent safeguards could create consumer and systemic risks. That is Warren’s stated concern, not a court finding or an established consumer outcome.
How the OCC’s 2025 approvals fit in
In December 2025, the OCC announced conditional approvals for five national trust bank charter applications:
| Applicants | Application route described by the OCC | Status in the announcement |
|---|---|---|
| BitGo, Fidelity Digital Assets, and Paxos | Proposed conversions of existing state-level trust companies | Conditional approval |
| Circle and Ripple | New applications | Conditional approval |
Conditional approval is not the same as unconditional final permission to begin every proposed activity. The OCC said new entrants could benefit consumers and the banking industry while maintaining its supervisory role. The complaint’s challenge involving Protego is a separate matter; it should not be conflated with the OCC’s December 2025 announcement about these five applications.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about the case’s status
The available record establishes the complaint’s filing and the public positions described above, but does not establish a court ruling or current docket schedule. The court’s response and the litigation timeline therefore remain unresolved.
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