The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC) challenging the agency's practice of granting national trust charters to cryptocurrency firms. ICBA President and CEO Rebeca Romero Rainey argued that Congress did not intend for the national trust charter to serve as a "side door" into the banking system for crypto companies seeking federal credibility without standard banking obligations. The banking advocacy group contends that crypto firms operating under these charters are not subject to the same capital, liquidity, supervision, and FDIC insurance requirements as traditional banks. While the OCC declined to comment on the litigation, the agency has issued a steady stream of trust charters to crypto entities that operate under different business models than community banks and do not offer the cash deposit accounts typically covered by federal insurance.