The Crypto Council for Innovation (CCI) has publicly supported the Office of the Comptroller of the Currency (OCC) regarding the issuance of national trust charters to cryptocurrency firms. CCI CEO Ji Hun Kim stated that the organization remains confident in the regulatory approvals granted by the OCC, characterizing recent legal challenges as an attempt to suppress financial innovation and market competition.
The Independent Community Bankers of America (ICBA) filed a lawsuit against the OCC in the US District Court for the District of Columbia on Friday. The ICBA alleges that the regulator approved bank charters for crypto entities without enforcing necessary safeguards, such as capital and liquidity standards, consolidated supervision, and obligations under the Community Reinvestment Act.
The OCC has issued approvals or conditional approvals for several companies under the administration of President Donald Trump. The list of entities includes World Liberty Financial, Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos. Jonathan Gould, who has served as the head of the OCC since July 2025, oversaw these decisions.
The approval of World Liberty Financial has faced scrutiny from lawmakers, particularly due to the company's co-founders having ties to the Trump family. The firm has also been subject to investigations concerning its alleged connections to royal families in the United Arab Emirates.
