The Independent Community Bankers of America (ICBA) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC), claiming that the OCC's allowance of national trust bank licenses for cryptocurrency firms constitutes an abuse of power. According to Cryptobriefing, the ICBA argues that such actions exceed the scope permitted by the National Bank Act, and that the OCC has effectively altered its own duties without congressional authorization. It specifically points out that this allows companies to circumvent obligations applicable to traditional banks.
