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Community Banks Swing Back at Trump Regulators Over Crypto Charters

Community Banks Swing Back at Trump Regulators Over Crypto Charters

Community bankers sued the Trump administration on Friday after regulators moved to grant bank charters to a wave of cryptocurrency companies, the latest chapter in a fight between traditional banking and crypto.

The lawsuit by the Independent Community Bankers of America accuses the regulators of allowing “highly risky cryptocurrency and digital asset activities” to enter the banking system without submitting them to the same level of regulatory oversight as banks.

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