BlackRock Urges OCC to Drop 20% Cap Under GENIUS Act

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BlackRock has urged the Office of the Comptroller of the Currency to eliminate a proposed 20% cap on tokenized reserve assets under the GENIUS Act. In a detailed letter, the firm argued that risk depends on asset quality and liquidity—not whether reserves are on blockchain. BlackRock warned the cap could limit growth of tokenized products like BUIDL. The move comes as tokenized real-world assets surge, with rapid growth expected ahead of the law’s 2027 implementation.