BlackRock Calls on OCC to Remove Cap Limits on Tokenized Reserve Assets

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BlackRock submits a comment letter to the U.S. Office of the Comptroller of the Currency (OCC), opposing the restrictions on reserve assets proposed in the draft rules of the GENIUS Act. The institution specifically focuses on the “permitting stablecoin issuers” rule, urging not to set a cap on the amount of tokenized reserve assets.

BlackRock points out that the proposed restrictions are unrelated to regulatory objectives, and the risks of reserve assets should depend on their credit quality, duration, and liquidity, rather than whether they are held or transferred on a distributed ledger. This comment letter is a response to the OCC’s proposed rules covering reserve composition, capital requirements, custody, and other issues. (The Block)

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