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The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.
Oct. 24, 2023
A new ICBA blog post discusses the pursuit of policy initiatives around digital assets by prudential regulators, the White House, and the Treasury Department.
Details: In Main Street Matters, ICBA Senior Vice President of Digital Assets and Innovation Policy Brian Laverdure recaps the increasing efforts by Washington to implement digital asset policy in light of the significant upheaval in crypto markets.
ICBA View: “ICBA continues to monitor the regulatory landscape as it relates to digital assets and to ensure that the voice of community banks is heard as new regulations or guidelines are proposed,” Laverdure writes.
Background: ICBA has repeatedly called on policymakers to ensure new policies directed at the crypto sector fully reflect its risks and to prioritize research on the specific effects of digital assets on community banks and their customers.
Recent Blog: In a previous ICBA blog post Laverdure recaps the significant upheaval in the digital assets market over the past year and what it means for Washington’s response.