BlackRock Pushes OCC to Drop 20% Tokenized Reserve Cap in GENIUS Rules

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BlackRock urged the OCC to remove a possible 20% cap on tokenized reserve assets in draft GENIUS Act rules for payment stablecoin issuers. BlackRock also asked the OCC to confirm that Treasury ETFs qualify as reserves and to add Treasury floating-rate notes with up to two years of remaining maturity to the eligible asset list.

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