PANews May 3 news, according to The Block report, BlackRock submitted a letter of opinion to the Office of the Comptroller of the Currency (OCC), opposing several reserve asset restrictions proposed in the draft implementation rules of the "GENIUS Act." BlackRock opposes setting a cap of 20% on tokenized reserve assets, as this restriction would hinder the development of its products such as the BUIDL fund. The BUIDL fund has supported over 90% of the shares of USDtb under Ethena and JupUSD under Jupiter. BlackRock also requested the OCC to confirm whether Treasury bond ETFs qualify as reserve assets and to include two-year floating rate Treasury bonds in the list of qualifying assets.

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