The push to bring crypto companies deeper into the US federal banking system is facing new backlash.

The Independent Community Bankers of America has sued the Office of the Comptroller of the Currency over rules allowing crypto-focused firms, such as Circle, Ripple, BitGo, and Paxos, to obtain national trust bank charters.

This comes just as a few of those companies secured final approval for their own federally supervised trust bank charters and could have broader implications for the growing number of digital asset entities pursuing similar licenses.

Side Door

The press release shared by the ICBA says that the center of the dispute is the final rule published by the OCC…