Anchorage Digital submits GENIUSACT implementation opinion emphasizing the importance of stablecoin regulatory framework

According to market sources, AnchorageDigital has submitted a rules-setting opinion to the Office of the Comptroller of the Currency (OCC) on the implementation of GENIUSACT, saying the framework will determine how stablecoins operate in the United States. AnchorageDigital said that as the first federally regulated stablecoin issuer, it has issued stablecoins for Tether, OSL Group and Ethena, and plans to cooperate with Western Union to launch UDSPT. It also expects to become a licensed payment stablecoin issuer (PPSI) after the bill takes effect. AnchorageDigital's comment letter submitted to the Office of the Comptroller of the Currency (OCC) shows that AnchorageDigital Bank (ADB) has proposed a number of changes to the stablecoin issuance rules (NPRM) under the GENIUS Act. The core demands include: hoping that the OCC recognize its model of isolating reserve assets in the South Dakota trust structure, and make corresponding arrangements in capital, statement disclosure and bankruptcy disposal; Oppose rigid quantitative requirements such as mandatory 10% daily liquidity deposits, 40% single custodian bank cap and 20-day WAM, and advocate principled supervision based on stress testing and liquidity liquidity; suggest canceling the one-day redemption exceeding 10%. Automatically trigger a redemption delay mechanism of up to 7 days, believing that this "gate" will instead induce a run; At the same time, they oppose the presumption that third parties or related parties will pay profits to currency holders as "circumvention of interest bans", and worry about stifling use cases such as white-label stablecoins and merchant discounts.