icba

In a move that highlights the increasing tension between the traditional financial system and the booming digital asset sector, the Independent Community Bankers of America (ICBA) has officially requested regulators to block the effort to obtain a national trust charter by #SonyBank . Sony's goal is to establish Connectia Trust, a subsidiary aimed at issuing a dollar-pegged stablecoin, managing reserve assets, and providing digital asset custody services. For the ICBA, which represents small banks nationwide, this move by the Japanese financial giant is seen as an exploitation of legal loopholes, allowing them to gain the benefits of a U.S. banking license without fully complying with strict supervisory regulations.