US community banks urge SEC to study deposit impact before finalizing crypto rule
- —ICBA wants a supplemental economic analysis written with federal banking agencies
- —SEC proposal exempts raises of up to $5M over four years and $75M per year
- —Group seeks tighter limits, more reporting and power to suspend the relief
- —ICBA previously modeled up to $1.3T leaving community banks for stablecoins
Why it matters: The rule will shape how easily crypto projects can raise capital in the US, while banks fear deposit flight into stablecoins.
Source: Coindoo