BlackRock Supports GENIUS Act Stablecoin Framework

BlackRock has submitted a comment letter to the U.S. Office of the Comptroller of the Currency (OCC), endorsing the proposed regulatory framework for payment stablecoin issuers under the GENIUS Act. According to BeInCrypto, the asset manager provided seven recommendations, advocating for broader reserve eligibility and flexible compliance rules. BlackRock supports the OCC's 'Option A,' which includes a principles-based approach with a quantitative safe harbor. The firm also urged the OCC to avoid imposing a 20% cap on tokenized reserves and to include U.S. Treasury Floating Rate Notes as eligible reserves.