How Congress Can Help Small Banks Join the Digital Money Revolution

Congress is working on new rules for digital money, like cryptocurrencies and blockchain tech. But they might forget about small banks that help people in rural and urban areas. These banks, called CDFIs and MDIs, are important for communities that big banks often ignore. If Congress doesn't include them in the new rules, these communities could miss out on the benefits of digital money. Digital money is becoming a big part of finance. Big banks and tech companies are already using it. But if small banks don't get involved, the people they serve could be left behind. This isn't fair, and it could make the gap between rich and poor even wider. Congress should order a study to find out how small banks can safely use digital money. This isn't about forcing them to use it. It's about giving them the information they need to make their own decisions. The study could also look at how digital money can help these banks serve their communities better. Small banks have been asking for guidance on digital money. They want to know how to protect their customers and follow the rules. A study could give them the answers they need. It would also show that Congress cares about making sure everyone benefits from new technology, not just big banks. This is a chance for Congress to make sure the future of money is fair. They can do this by including small banks in the new rules. It's a small step, but it could make a big difference for the people who need it most.