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In a letter to Senate Leaders John Thune and Charles Schumer, PTG urged the Leaders to bring the Digital Asset Market Clarity Act (CLARITY Act) to the floor for a vote before the August recess. PTG supports the legislation because its members—principal trading firms that provide liquidity across U.S. markets—believe clear federal oversight is needed to support digital asset markets, define SEC and CFTC jurisdiction, reduce regulatory uncertainty, and encourage trading activity and liquidity to remain onshore under robust U.S. supervision.

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.