U.S. banks warn against OCC crypto licensing rules as Bank Policy Institute considers legal action over national trust charters.
Major U.S. banking groups raised concerns about a new federal crypto licensing framework. The dispute is over plans by the national banking regulator to grant special trust charters to crypto companies. Traditional banks are worried that the changes will undermine oversight regulations and alter competition across the American financial sector.
U.S. Banks Challenge OCC Plan to License Crypto Firms
Bank Policy Institute is said to be considering legal action against the Office of the Comptroller of the Currency. The trade group represents a number of major banks in the United States. Its board includes executives like Jamie Dimon, David Solomon, and Brian Moynihan.
According to a report by The Guardian, the group is considering options for a potential lawsuit. Banking institutions say the OCC has misinterpreted the federal licensing rules without responding to repeated warnings from the industry.
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The dispute concerns the regulator’s decisions to issue national trust bank charters. These kinds of licenses are what enable crypto and fintech companies to trade across the country with one federal approval. As a result, approved firms were allowed to serve customers in all 50 states in the USA.
Meanwhile, traditional banks say the financial firms would be granted federal recognition without having to meet the same requirements as full banking institutions. Banks say that the capital, compliance, and risk management requirements should be the same throughout the industry.
The regulator is presently under the leadership of Jonathan Gould. Gould worked previously in the cryptocurrency sector before he became the head of the OCC. His approach has been to introduce the services of digital assets slowly within the banking structure.
Stablecoin Law and Proposed Rules Intensify Banking Dispute
The regulatory debate was further heated after the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins Act in July 2025. The law ordered regulators to develop a formal framework for authorized payment stablecoin issuers.
The proposed framework would set compliance standards for crypto and fintech companies that are seeking national charters. These rules involve enhanced anti-money laundering requirements and operational controls. In addition, companies may be subject to increased capital standards to ensure financial stability.
However, the banking industry claims that even the proposed framework retains the benefit to non-bank financial firms. They think that federal trust charters could enable crypto companies to compete with banks without receiving identical supervision levels.
Concerns were also raised by state regulators. The Conference of State Bank Supervisors recently raised concerns about the potential of such charters to undermine existing regulatory structures. The organization said the approval of these licenses could break consumer protection and fair competition.
Meanwhile, some banking groups have already made formal comments opposing some applications. Institutions asked regulators to reject charter applications from crypto companies such as Circle and Ripple. These objections are indicative of broader industry concerns about the pace of regulatory change.
The OCC continues to receive public comment on its proposed framework. The comment period is still open until May 1, 2026. Regulators will consider industry responses before making a final rule.
Overall, the dispute underlines increasing tension between traditional financial institutions and crypto-focused companies. Banks want to see greater oversight before they give digital asset firms nationwide charters. Meanwhile, the regulators are still looking into ways in which cryptocurrency services can be integrated into the wider financial system.
