• Major banks weigh lawsuit against OCC over new, expanded crypto trust charters.

  • Banks warn that lighter oversight for crypto firms could threaten financial stability.

  • National trust charters spark clash between Wall Street banks and fintechs.

Several of the nation’s largest banks are evaluating legal action against a federal regulator over new crypto banking licenses. The Bank Policy Institute (BPI), which represents major lenders including JPMorgan, Goldman Sachs, and Citigroup, argues that the Office of the Comptroller of the Currency’s (OCC) latest rules could threaten consumer safety and financial stability. These developments mark a growing clash between traditional banks and emerging fintech and crypto firms seeking national trust charters.

The OCC, led by Jonathan Gould, a former crypto executive, has streamlined the process for fintech and crypto firms …

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