ICBA Statement on House Passage of Legislation to Establish Digital Asset Regulatory Framework and Bar U.S. Central Bank Digital Currency

Washington, D.C. (July 17, 2025)-Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on House passage of the GENIUS Act (S. 1582), the CLARITY Act (H.R. 3633), and the Anti-CBDC Surveillance State Act (H.R. 1919).

"Community banks have a proven commitment to their communities, providing critical credit to consumers and small businesses nationwide. On behalf of the nation's community banks, ICBA appreciates the steps taken by lawmakers throughout the legislative process to address concerns raised by ICBA while providing regulatory clarity for the digital assets sector.

"ICBA understands the importance of having a clear regulatory framework for stablecoins and other digital assets and has worked closely with Congress to ensure the GENIUS Act includes important provisions to protect against the negative economic consequences to local communities that would result from potential community bank disintermediation.

"As the GENIUS Act heads to President Trump to be signed into law and digital assets market structure legislation - the CLARITY Act - is taken up in the Senate, ICBA looks forward to continuing to work with policymakers to ensure legislation creates a comprehensive regulatory framework that fully protects consumers, the financial system, and the unique and important role community banks and their deposits serve in local economies.

"Further, ICBA commends the House for passing legislation to bar the Federal Reserve from issuing a U.S. central bank digital currency to consumers, which would disintermediate community banks, reduce credit availability, and undermine consumer privacy. The Anti-CBDC Surveillance State Act would avoid the unnecessary risks to consumers and small businesses that a U.S. CBDC would pose, and we encourage the Senate to advance this important legislation.

"ICBA looks forward to continuing to work with policymakers on these critical issues on behalf of the nation's community banks."

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation's community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America's community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers' financial goals and dreams. For more information, visit ICBA's website at icba.org.