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Community Bank Group Launches Ad Campaign Criticizing Stablecoin Reward Language in Clarity Act on Thursday

Regulation & Policy

2026-06-11 15:33:00

The Independent Community Bankers of America unveiled a new ad campaign on Thursday, pushing back against compromised language in the Clarity Act regarding stablecoin rewards. The campaign warns of risks from digital assets, with ICBA President and CEO Rebeca Romero Rainey stating that community banks are concerned crypto rewards will draw deposits away from traditional banks. The Senate Banking Committee adopted bipartisan language blocking certain firms from paying interest on stablecoin holdings or economically equivalent compensation, though it allows rewards based on specific activities. The Digital Chamber CEO Cody Carbone criticized ICBA's campaign, arguing the industry is fighting for clear federal rules while ICBA seeks to shield itself from competition.

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