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ICBA released a summary of President Joe Biden’s executive order on digital assets and what it means for the nation’s community banks.
Details: The summary details the EO’s seven primary directives, offers a timeline of the reports required by the order, covers ICBA engagement with policymakers, and outlines what the order means for community banks and the federal approach to digital assets.
Stablecoin Update: Additionally, a separate ICBA blog post provides a market and policy update on stablecoins with the implications for community banks.
ICBA Position: ICBA has consistently supported a comprehensive regulatory approach to digital assets that will enable community banks to help mitigate crypto risks, including in a news release responding to the EO and a written statement for a recent Senate hearing.