Poll: In digital assets debate, community bank support dominates

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36				/ By ICBA

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44			/ By ICBA

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Heading into this week’s ICBA Capital Summit, new polling data show that Americans support community banks and want to ensure the industry is not harmed in the current debate over digital assets policy.

Details: The ICBA polling of U.S. adults conducted by Morning Consult this month found:

65% say it is important for policymakers debating crypto policies to ensure digital assets policy avoids harming bank lending in local communities.

62% say policymakers should ensure crypto policy preserves consumer access to insured deposit accounts.

74% say banking with a bank based in their local community is important to them.

74% say that when deciding where to place money and investments, it is important that the institution is part of the regulated banking system.

ICBA View: In a national news release, ICBA President and CEO Rebeca Romero Rainey said that with community bankers gathering in Washington this week for the ICBA Capital Summit, the polling demonstrates that Americans strongly support community bank views amid the ongoing debate over digital assets market structure.

Real-World Data: An ICBA data analysis shows allowing crypto intermediaries to pay interest or yield on payment stablecoins could reduce community bank lending by $850 billion due to a $1.3 trillion reduction in the industry’s deposits—significantly diminishing access to credit in local communities.

Input Needed: With the Senate Banking Committee crafting market structure legislation and working to hold a markup soon, ICBA is urging community bankers to use its Be Heard grassroots action center to urge lawmakers to prohibit the payment of interest, yield, rewards, or similar inducements on payment stablecoins by exchanges, affiliates, and other market participants.

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