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The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.
Feb. 27, 2025
ICBA told Congress that any legislation establishing a regulatory framework for stablecoins must address stablecoin risks without disintermediating community banks.
Details: In a statement for the record for a Senate Banking Committee Digital Assets Subcommittee hearing, ICBA said any stablecoin regulatory framework must:
Apply consistent standards to both banks and nonbanks to prevent regulatory arbitrage.
Preserve the integrity of Federal Reserve Master Accounts.
Protect against risks posed by commercial and Big Tech issuance.
Maintain community banks’ ability to utilize deposits to fund local lending.
ICBA Advocacy: ICBA recently encouraged the Trump administration to ensure regulatory clarity for banks and a level regulatory playing field between the banking and crypto sectors. ICBA also submitted a statement for a recent House Financial Services subcommittee hearing on digital assets.
Outlook: ICBA will continue to engage with policymakers on digital assets issues as regulatory frameworks are considered.