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Today, PTG submitted a comment letter to the Office of the Comptroller of the Currency (OCC) in response to the OCC’s proposed rule implementing the GENIUS Act for payment stablecoin issuers. While PTG supports the OCC’s broader goal of creating regulatory clarity for stablecoins, the letter urges the agency to reconsider proposed Rule 15.12(c), which would require a mandatory seven-day redemption delay whenever redemptions exceed 10 percent of outstanding issuance value in a 24-hour period. PTG argues that, rather than promoting financial stability, this automatic delay could undermine confidence in stablecoins and increase the risk of market disruption.

PTG said they strongly support the CFTC's consideration of tokenized collateral, particularly payment stablecoins that meet the robust standards outlined in the GENIUS Act signed into law this year. PTG believes appropriately regulated tokenized collateral represents a transformative opportunity to enhance market efficiency, reduce settlement risks, and strengthen the global competitiveness of U.S. derivatives markets.

The letter covers a range of topics including, security status issues and regulation of tokenized U.S. equity securities. It also covers potential collateral efficiencies and accounting considerations.

The PTG filed with the Securities Exchange Commission urging the agency to approve the Exchange's proposed position and exercise limit increases for options on iShares Bitcoin Trust ETF.