BlackRock Requests Changes to OCC's GENIUS Act Rules for Stablecoin Issuers

BlackRock has called on the Office of the Comptroller of the Currency (OCC) to reconsider certain aspects of the draft GENIUS Act rules concerning payment stablecoin issuers. According to NS3.AI, BlackRock is urging the OCC to eliminate a proposed 20% cap on tokenized reserve assets. Additionally, BlackRock seeks confirmation from the OCC that Treasury Exchange-Traded Funds (ETFs) qualify as reserve assets. The investment firm also recommends the inclusion of Treasury floating-rate notes with up to two years of remaining maturity in the list of eligible assets.