Gate News reports that on March 9, an industry organization called the Bank Policy Institute (BPI), representing 40 major U.S. banks including JPMorgan Chase, Goldman Sachs, and Citigroup, is considering suing the U.S. Office of the Comptroller of the Currency (OCC). BPI pointed out that OCC Director Jonathan Gould, appointed by Trump, is reinterpreting federal licensing rules to make it easier for crypto companies and fintech startups to obtain “national bank trust charters,” allowing them to operate across all 50 states. BPI believes this move enables these companies to enter the U.S. financial system without strict regulation and oversight, potentially jeopardizing consumer protection and financial stability. The organization previously urged OCC in October last year to reject license applications from Circle, Ripple, and payment company Wise. Additionally, World Liberty Financial, a crypto enterprise operated by the Trump family, applied for such a license in January. Currently, the Conference of State Bank Supervisors (CSBS), representing regulators from all 50 states, and the Independent Community Bankers of America (ICBA), representing 5,000 small banks, have also strongly opposed OCC’s policy.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
