Small Banks Sue to Block Bank Charters for Coinbase, Ripple, and Other Crypto Companies

The Independent Community Bankers of America (ICBA) sued the Office of the Comptroller of the Currency (OCC) and Comptroller Jonathan Gould on Friday, asking a federal judge in Washington to throw out the rule the agency has used to grant national trust charters to crypto firms. The trade group, whose members typically hold less than $10 billion in assets, says those charters let digital-asset companies pick up the credibility of a federal bank without the deposit insurance, capital standards, or…