Trump’s Pro-Crypto Regulator Faces Legal War With Big Banks

The Bank Policy Institute (BPI), representing 40 major lenders including JPMorgan and Goldman Sachs, is weighing a lawsuit against the Office of the Comptroller of the Currency (OCC) over its approvals of national trust charters for crypto firms. The OCC, led by Trump appointee and former crypto executive Jonathan Gould, has eased access to national bank trust charters for crypto and fintech firms. Why it matters: Banks argue that OCC-chartered crypto firms bypass the supervision and controls required of fully licensed banks, raising consumer risk. A successful lawsuit may affect charter approvals already granted to firms such as Crypto source: https://beincrypto.com/us-banks-consider-lawsuit-against-trump-occ/