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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 |
Aug. 01, 2022
The value of outstanding stablecoins grew roughly fivefold last year, the Federal Reserve said in its 2021 annual report.
Crypto Vulnerabilities: In the report, the Fed said stablecoins have structural vulnerabilities similar to those of other cash-like vehicles, making them susceptible to runs and posing risks to payment and financial systems.
Continued Study: The Fed also said it is studying the implications of crypto and other emerging financial technologies, which have raised fundamental questions about appropriate legal and regulatory safeguards.
ICBA Resources: With policymakers continuing to debate crypto regulations, ICBA offers a summary of President Joe Biden’s executive order on digital assets as well as recent blog posts on the collapse of the TerraUSD stablecoin, its ongoing impact on financial markets, and how it affects community banks and the regulatory debate.