Regulation· ★★★★· neutral·

Crypto trade group backs OCC in lawsuit against community bankers over crypto trust charters

  • —CCI backed the OCC in the dispute over national trust charters for crypto firms
  • —ICBA filed its lawsuit in the US District Court for the District of Columbia on Friday
  • —OCC approved applications from World Liberty Financial, Circle, Ripple, Fidelity, BitGo and Paxos
  • —ICBA said the charters bypass capital, supervision and FDIC insurance requirements
Why it matters: The ruling will determine whether crypto firms can obtain federal banking charters without meeting standard bank obligations.
Source: CryptoHamster
More on this
Regulation · yesterday
Modern Treasury Files With OCC for National Trust Bank Charter
 Regulation · Sep 21
OCC Approves Three Crypto Trust Banks, Eroding Ripple's Regulatory Edge
 Regulation · yesterday
WSJ: StringZ holds 49% of World Liberty Trust parent, but OCC approval is only preliminary