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| Title | Recipient | Date |
|---|---|---|
| Letter to Nacha on ACH Proposals | 12/16/24 | |
| Letter urging CFPB to clarify Regulation Z interpretive rule on Buy Now, Pay Later Loans | Consumer Financial Protection Bureau | 08/01/24 |
| Request for 90-Day Comment Extension on Expanding Fedwire | 06/11/24 | |
| ICBA Comments on Reg II Debit Card Interchange Proposal | Federal Reserve | 05/11/24 |
| 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 |
| Title | Committee | Presenter | Date |
|---|---|---|---|
| Community Bank Statement for GENIUS Act Markup | Senate Banking Committee | Written Statement | 03/12/25 |
| 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. 24, 2025
President Donald Trump signed an executive order that creates a working group on digital assets markets “to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
Details: The working group will be chaired by the special advisor for AI and crypto and include most major agencies and departments, such as the Treasury, Commerce, Homeland Security departments, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. The executive order also withdraws President Joe Biden’s previous order on digital assets, including the Framework for International Engagement on Digital Assets.
Goals: The executive order laid out a timeline for specific projects, including:
Identifying regulations, guidance, orders, or other items that affect the digital asset sector and recommending whether they should be rescinded, modified, or adopted.
Submitting a report with legislative and regulatory recommendations focusing on the issuance and operation of digital assets, including stablecoins, market structure, and the potential creation and maintenance of a national digital assets stockpile.
CBDC: Under the order, agencies are prohibited from undertaking any action to establish, issue or promote central bank digital currencies in the U.S. or abroad and should immediately terminate any plans or initiatives related to the creation of CBDCs.
More Crypto News: Separately, the SEC issued Staff Accounting Bulletin 122, which rescinds the contested guidance on cryptoasset custody services published in SAB 121. This means banks that offer custody services will not have to reflect that obligation on their balance sheet as a liability. SAB 121 was also subject to scrutiny in Congress last year.
ICBA View: ICBA recently encouraged the Trump administration to ensure regulatory clarity for banks and a level regulatory playing field between the banking and crypto sectors. It also has repeatedly expressed opposition to the creation of a U.S. central bank digital currency, requesting federal records from U.S. agencies on whether legislative changes are required to issue a U.S. CBDC.
Outlook: ICBA will continue to engage with policymakers on digital assets issues as regulatory frameworks are discussed.