The Crypto Council for Innovation (CCI) has backed the Office of the Comptroller of the Currency (OCC) in the dispute over national trust charter approvals for crypto companies and criticized the lawsuit filed by the Independent Community Bankers of America (ICBA) in federal court in the District of Columbia. On Monday, CCI head Ji Hun Kim stated that the organization is confident in the legality of the OCC's approvals, calling the lawsuit an attempt to hinder payment innovation and competition.

ICBA Challenges 'Workaround' to Enter the Banking System

The ICBA lawsuit claims that the OCC granted bank charters, including to crypto companies, without sufficient safeguards and without meeting requirements typically applied to banks. According to the association, a national trust charter should not serve as a workaround for obtaining federal bank status without obligations under the Community Reinvestment Act, consolidated supervision, capital and liquidity standards, and FDIC deposit insurance.

Approvals Involved World Liberty, Circle, Ripple, BitGo, and Paxos

Among the applications approved or conditionally approved by the OCC during the Trump administration were World Liberty Financial, Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos. The approval of World Liberty drew criticism from several lawmakers; the decision was made under OCC head Jonathan Gould, appointed by Trump and serving since July 2025. World Liberty Financial, co-founded by members of the Trump family, has previously been subject to reviews over alleged ties to ruling families in the UAE.