[ICBA Calls for Rejection of Coinbase Bank Charter, Coinbase Accuses Protectionism] The Independent Community Bankers of America (ICBA) has sent a letter to the U.S. Office of the Comptroller of the Currency (OCC), urging it to reject the national trust bank charter application submitted by Coinbase subsidiary Coinbase National Trust Co., citing that the application fails to meet statutory standards and, if approved, would set a dangerous precedent for the structure of the U.S. banking system. In response, Coinbase Chief Legal Officer Paul Grewal stated: 'Imagine someone opposing the acquisition of a regulatory license simply because they prefer cryptocurrency to remain unregulated. That is exactly ICBA's stance. This is yet another example of banking lobby groups attempting to protect their own interests by building regulatory moats.'