ICBA’s latest appeal presses the OCC to deny Coinbase’s trust license application, while Coinbase calls the stance protectionist and anti-crypto.
The Independent Community Bankers of America (ICBA) urged the Office of the Comptroller of the Currency (OCC) to reject Coinbase National Trust Co.’s federal trust charter application, citing statutory compliance issues. Coinbase’s Chief Legal Officer Paul Grewal publicly criticized the move as anti-crypto and protectionist. The petition joins similar opposition from other banking groups against crypto firms seeking trust charters, with the OCC under Jonathan Gould tasked with the decision.