ICBA Sues OCC Over Crypto Trust Charters

The suit matters less as a fight over one charter than as a test of whether the OCC can keep extending national trust powers to crypto firms without fresh rulemaking. It sharpens the split between community banks, which see an uneven playing field, and an agency treating charters as a supervisory tool rather than a policy statement. The open question is whether courts defer to the OCC's existing guidance or force it back through notice-and-comment — a outcome that would slow the pipeline for every applicant behind Protego.