BlackRock writes to OCC: Do not set limits on tokenized reserve assets

robot
Abstract generation in progress

Deep Tide TechFlow news: On May 03, BlackRock submitted a comment letter to the Office of the Comptroller of the Currency on Friday, opposing several proposed reserve asset restriction recommendations in the draft rules for implementing the GENIUS Act. The document submitted by BlackRock focuses on rules related to the approval of payment stablecoin issuers (PPSIs)—entities that have been granted a federal charter to issue stablecoins under federal law after President Trump signed the law last July. The sharpest requirement is that BlackRock urges the Office of the Comptroller of the Currency (OCC) not to set a quantitative cap on tokenized reserve assets; the agency previously suggested that such a cap could be as high as 20%. BlackRock says that such a restriction is “unrelated” to the OCC’s goals, and argues that risk conditions depend on credit quality, duration, and liquidity—“rather than whether assets are held or transferred on a distributed ledger.”

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin