A group of community banks has filed a lawsuit against the Office of the Comptroller of the Currency (OCC) over the agency's approval of trust bank charters for several cryptocurrency companies. The lawsuit claims that the OCC has exceeded its authority granted by Congress in issuing these charters. The plaintiffs argue that the OCC's actions are a threat to the stability of the US banking system.
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.
The lawsuit was filed in a US federal court and seeks to block the OCC's approval of these charters, as well as any future approvals. The community banking group is seeking a declaratory judgment that the OCC's actions are unlawful and a permanent injunction to prevent further harm to the banking system.