Community Bankers Sue OCC Over Crypto Trust Charters
- —ICBA challenges OCC rule and Interpretive Letter 1176 on non-fiduciary trust charters
- —OCC has approved 21 trust charters, at least 13 tied to crypto firms
- —Lawsuit filed in D.C. federal court seeks to vacate the rule
- —Crypto firms may lose federal charters and turn to state-level licenses
Why it matters: A ruling against the OCC could strip Coinbase, Circle and Ripple of federal banking licenses and reshape crypto custody regulation in the U.S.
Source: Bitcoin.com
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