ICBA’s new advocacy campaign to protect local communities from the risks posed by unregulated crypto products is making news following Thursday’s launch.
Initial Media Coverage: American Banker published a Q&A on the campaign with ICBA President and CEO Rebeca Romero Rainey, who said the effort is designed to raise awareness as crypto-friendly policies threaten to displace community bank deposits. POLITICO Influence also reported on the campaign.
Campaign Launch: ICBA announced the campaign in a national news release, highlighting the essential services community banks provide for local economies as well as the lack of voter support for pro-crypto policies.
Details: Available at mainstreetovercrypto.com, the campaign includes a new 30-second ad contrasting the essential services community banks provide against the crypto push for less accountability.
Campaign Rollout: ICBA is backing the ad launch with an initial six-figure paid media investment in the first month as part of a broader campaign rollout.
More Resources:
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A recent ICBA blog post says the lack of consumer trust in digital assets reinforces ICBA’s calls for policymakers to pause crypto policy developments and assess their combined impact on local communities and the economy.
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ICBA’s website now features a digital assets and cryptocurrency topic page with resources and information on the issue for community bankers.