Interactive map shows effects of stablecoins on local lending

As Congress continues to debate the Clarity Act, a new interactive map from ICBA details how stablecoin growth could put small business credit at risk.

Details: For each state, the interactive map shows the:

• Number of small businesses that could lose credit.

• Share of small businesses at risk.

• Small business lending capacity at risk.

ICBA Resource Center: The interactive map is one of many tools available on ICBA’s Main Street Over Crypto resource center, which spotlights how pending crypto policies could harm local communities. The campaign also features ICBA’s grassroots alert on the Clarity Act, messaging playbook, and social media toolkit.

More: An ICBA economic data analysis shows failing to extend the prohibition on stablecoin yield in the Clarity Act could reduce community bank lending by $850 billion due to a $1.3 trillion reduction in the industry’s deposits.

Public Opinion: In a recent op-ed in the Washington Examiner, ICBA President and CEO Rebeca Romero Rainey said that while just 18% of Americans said they want lawmakers to prioritize crypto rules, 74% say locally based banking is important to them.

Action Needed: With the Senate working to bring the Clarity Act digital assets bill to a vote soon, ICBA continues encouraging community bankers to use its Be Heard grassroots action center to urge senators to strengthen the bill’s prohibition on stablecoin yield.