Payments

Letters and Testimonies

Letters to Congress

Title Recipient Date
Sen. Josh Hawley 09/20/23
House Financial Services Committee 09/19/23
House Financial Services Committee 07/19/23
House, Senate Leaders 07/14/23
House, Senate 07/11/23
House Financial Services Committee 06/13/23
Senate, House leaders 06/09/23
House Financial Services Committee 05/05/23
House Financial Services Committee 04/19/23
Rep. Tom Emmer 03/08/23
Senate, House 11/17/22
House, Senate 10/11/22
Senate 10/04/22
House 09/27/22
House 09/21/22
Senate 08/31/22
House Financial Services Committee 07/22/22
Senate Judiciary Committee 05/04/22
Senate Judiciary Committee 05/02/22
Sens. Cruz, Braun, Grassley 04/04/22
Rep. Tom Emmer 04/04/22
Congress 07/27/21
116th Congress 10/15/20
U.S. House Task Force on Financial Technology 09/29/20

Letters to Regulators

Title Recipient Date
Basel Committee on Banking Supervision 03/28/24
Federal Reserve, Justice Department, Treasury Department 03/22/24
BIS Committee on Payments and Market Infrastructures 02/28/24
Letter to Regulators 01/30/24
FinCEN 01/23/24
Federal Reserve 11/27/23
IRS 11/13/23
Federal Reserve 10/20/23
IOSCO 10/18/23
White House, Treasury Department 10/12/23

Testimony

Title Committee Presenter Date
House Subcommittee on Digital Assets, Financial Technology and Inclusion Written Statement 09/13/23
Senate Banking Committee Written Statement 02/13/23
Senate Banking Committee Written Statement 07/28/22
House Financial Services Committee Written statement 05/25/22
Senate Banking Hearing 02/15/22
House Financial Services Committee Written statement 02/08/22
Senate Banking Committee Written Statement 12/14/21
House Financial Services Committee Written statement 12/07/21
HSFC 09/29/20

Payments News

Hsu: Crypto industry slowing progress on supervision

Feb. 23, 2024

Crypto industry resistance and jurisdictions competing for crypto business have held up progress on consolidated supervision of cryptoassets, Acting Comptroller of the Currency Michael Hsu said.

Hsu Remarks: Addressing the Financial Stability Board, Hsu said the crypto industry has helped to block progress on implementing the FSB’s recommendations for comprehensive crypto oversight, which is based on the principle of “same activity, same risk, same regulation.” Nevertheless, collaboration among financial regulators can help ensure a common understanding of risks and promote high regulatory standards, Hsu said.

ICBA View: ICBA supports FSB and International Organization of Securities Commissions efforts to advance international cryptoasset regulation.

  • In a 2022 comment letter on the FSB’s framework, ICBA endorsed consistent regulatory and supervisory standards, coordination across and within jurisdictions, and bringing global stablecoins within the regulatory perimeter.

  • In a separate letter on IOSCO’s international baseline policy recommendations, ICBA said the proposals are prudent steps to safeguard the financial system against crypto risks.