BlackRock urges OCC to remove cap on tokenized reserve assets

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BlackRock asked the Office of the Comptroller of the Currency to remove proposed quantitative caps on tokenized reserve assets for permitted payment stablecoin issuers. BlackRock said reserve risk should be judged by credit quality, duration, and liquidity rather than by whether assets are held or transferred on a distributed ledger. The comment letter responds to OCC draft rules tied to the GENIUS Act that also address reserve composition, capital requirements, and custody.

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