Crypto
Home›Crypto›Regulation›Crypto Council for Innovation backs OCC charters amid…
Crypto Council for Innovation backs OCC charters amid ICBA lawsuit
CCI argues the ICBA’s court challenge is meant to limit crypto innovation, while the OCC has already approved charters for multiple crypto firms.
The Crypto Council for Innovation backed the Office of the Comptroller of the Currency’s approval of charters for crypto companies, saying the agency’s actions show the council’s confidence despite legal and political pushback, Cointelegraph reports.
CCI CEO Ji Hun Kim said the group remains confident in the OCC’s charter approvals, even after a lawsuit filed by the Independent Community Bankers of America in US District Court for the District of Columbia.
According to Cointelegraph, the lawsuit alleges the OCC approved bank charters for entities, including crypto companies, without sufficient safeguards and compliance protections that are normally used under related requirements.