According to CoinMeta, the Independent Community Bankers Association, which represents community banks in the United States, has filed a lawsuit against the Federal Reserve Board of Governors (FRB) in the District of Columbia, claiming that the FRB has overstepped its jurisdiction by granting national trust bank charters to cryptocurrency companies. The association pointed out that these crypto companies have obtained the credibility of bank charters in the United States without complying with all the requirements of regular banks. Under the national trust charters, these companies are allowed to manage customer funds and process transactions, but they are not permitted to accept cash deposits or issue loans. The president of the association, Rebeca Romero Rainey, stated that digital assets held by crypto companies with such charters do not enjoy the same level of protection. This dispute has been ongoing for several months, and in May, the association opposed the charter applications of the parent company of Kraken, Payward. Records show that Payward's application was submitted on May 8th. Senator Elizabeth Warren has previously expressed concerns about this, stating that since December 2025, the FRB has granted national trust charters to at least nine crypto companies. OCC emphasized that its final charter rules have not expanded or reduced the authority granted by these charters.