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Title | Recipient | Date |
---|---|---|
Comments on Basel Cryptoasset Standard Amendments | Basel Committee on Banking Supervision | 03/28/24 |
Freedom of Information Act Request on CBDC Authority | Federal Reserve, Justice Department, Treasury Department | 03/22/24 |
Joint Trade Statement on ISO 20022 Standards | BIS Committee on Payments and Market Infrastructures | 02/28/24 |
Disclosure of Cryptoasset Exposures | Letter to Regulators | 01/30/24 |
ICBA Comment Letter for FinCEN Cryptocurrency Mixer Proposal | FinCEN | 01/23/24 |
Joint Extension Request on Fed Debit Card Interchange Price Cap | Federal Reserve | 11/27/23 |
Comments on Proposed Tax Treatment of Digital Assets | IRS | 11/13/23 |
Joint Trades Letter on Reg II Board Meeting | Federal Reserve | 10/20/23 |
Response to IOSCO DeFi Policy Recommendations | IOSCO | 10/18/23 |
Joint Letter on Mortgage Rates | White House, Treasury Department | 10/12/23 |
Title | Committee | Presenter | Date |
---|---|---|---|
Statement for House Hearing on Central Bank Digital Currency Risks | House Subcommittee on Digital Assets, Financial Technology and Inclusion | Written Statement | 09/13/23 |
Effective Regulation of Crypto Assets | Senate Banking Committee | Written Statement | 02/13/23 |
Statement for Senate Crypto Hearing | Senate Banking Committee | Written Statement | 07/28/22 |
Hearing Statement on Central Bank Digital Currency | House Financial Services Committee | Written statement | 05/25/22 |
Enhanced Regulation of Digital Assets Will Promote Responsible Innovation | Senate Banking Hearing | 02/15/22 | |
Statement for House Hearing on Stablecoins | House Financial Services Committee | Written statement | 02/08/22 |
Statement for Senate Stablecoin Hearing | Senate Banking Committee | Written Statement | 12/14/21 |
Statement for House Hearing on Digital Assets | House Financial Services Committee | Written statement | 12/07/21 |
ICBA Statement for HFSC Fintech Hearing 9-29-2020 | HSFC | 09/29/20 |
Dec. 15, 2021
Policymakers should take a comprehensive, coordinated regulatory approach to stablecoins and other digital assets, ICBA told the Senate Banking Committee.
Statement: In a written statement for a hearing on stablecoins, ICBA said:
Community bank involvement within a rigorous and thoughtful regulatory framework will help mitigate risks presented by stablecoins and other cryptocurrencies.
Stablecoin risks include eroding monetary authority, threatening financial stability, and risking community bank disintermediation.
Congress should ensure stablecoins are subject to appropriate federal prudential oversight that includes the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Republican Principles: The committee’s Republican members on Tuesday released principles to guide stablecoin legislation that disagrees with a President's Working Group report that recommended requiring stablecoin issuers to be insured depository institutions. Instead, the principles would allow stablcoin issuers to choose from at least three regulatory regimes, including operating with a conventional bank charter.
Next Steps: While the broader debate over digital asset oversight continues, federal banking regulators recently said they plan to provide greater regulatory clarity on crypto-related activities next year. The OCC separately issued an interpretive letter with guidance on stablecoins and other digital assets.