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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 |
Jan. 21, 2022
The Federal Reserve Board released a long-awaited discussion paper that examines the pros and cons of a potential U.S. central bank digital currency, or CBDC.
Background: With policymakers debating a potential U.S. CBDC, the paper summarizes the state of the domestic payments system and discusses new types of digital payment methods and assets, including stablecoins and other cryptocurrencies.
Key Considerations: While the Fed said its paper does not favor any policy outcome, it identifies specific policy considerations, such as:
Balancing consumer privacy protections with transparency to deter criminal activity.
Using intermediaries to leverage the private sector and avoid systemic disruptions.
Ensuring a CBDC is readily transferable between customers of different intermediaries.
Supporting compliance with anti-money-laundering and anti-terrorist-financing rules.
Comments: The Fed invited public comment on the paper within 120 days. ICBA is reviewing the paper and will submit comments.
More: ICBA offers a series of blog posts on community bank CBDC considerations, including CBDC myths, where the U.S. stands in the CBDC race, why community banks should have an intermediary role, and a CBDC primer for community banks.