ICBA Ad Campaign Targets Clarity Act Language on Stablecoin Rewards

The Independent Community Bankers of America (ICBA) has launched a new advertising campaign warning about digital asset risks and opposing language in the Clarity Act related to stablecoin rewards. According to NS3.AI, banks argue that stablecoin rewards could pull deposits away from traditional banks, while crypto firms say limiting such rewards would hinder innovation. The Senate Banking Committee advanced its version of the Clarity Act in May. The bill would next require a vote by the full Senate.