--- type: "AIHallucinationFinding" title: "A payment processor issuing a stablecoin backed by reserves held at an OCC-chartered national trust…" citation_id: "RLB-H-US-CFTC-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-Q005-Opus47" finding_uid: "US-CFTC-US-001-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-v1-005--opus-47-websearch" question_uid: "US-CFTC-US-001-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-v1-005" regulation_id: "US-CFTC-US-001-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025" regulation_slug: "DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025" regulation_title: "CFTC Digital Asset Collateral No-Action Relief and Tokenized Asset Staff Guidance (Market Participants Division, December 2025)" regulator_short_code: "CFTC" regulatory_body_id: "CFTC-US-001" jurisdiction_code: "US" j_level: "J3" ai_subject: "claude-opus-4-7" ai_subject_display: "Claude Opus 4.7 (web search on)" ai_subject_version: "opus-47-websearch" response_failure_mode: "misstated_rule" substrate_document_name: "p_03_NOTICE_CFTC_Staff_Letter_26_05__February_6__202_download.pdf" substrate_document_path: "https://reglegbrief.com/substrate/US/CFTC/DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025/_raw_manual_substrate/p_03_NOTICE_CFTC_Staff_Letter_26_05__February_6__202_download.pdf" substrate_section_anchor: "CFTC Staff Letter 26-05 (February 6, 2026) — supersession of 25-40 and national trust bank expansion of payment stablecoin definition" citation_issue_types: ["Contradictory", "Pretextual"] audiences: ["ai_labs"] published_at: "2026-06-03T19:51:38.852731+00:00" substrate_version: 1 methodology_version: "2.3" license: "CC-BY-4.0" resource: "https://reglegbrief.com/regulators/j3/us/cftc/DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025/ai-labs/finding/US-CFTC-US-001-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-v1-005--opus-47-websearch/" tags: ["ai-hallucination", "misstated_rule", "cftc", "digital-asset-collateral-tokenized-assets-staff-guidance-2025", "us"] timestamp: "2026-06-16T00:00:00+00:00" --- # AI Hallucination Finding: A payment processor issuing a stablecoin backed by reserves held at an OCC-chartered national trust… - **Citation ID.** `RLB-H-US-CFTC-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-Q005-Opus47` - **Finding UID.** `US-CFTC-US-001-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-v1-005--opus-47-websearch` - **Regulation.** [`DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025`](/okf/regulations/DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025.md) — CFTC Digital Asset Collateral No-Action Relief and Tokenized Asset Staff Guidance (Market Participants Division, December 2025) - **Regulator.** [`CFTC-US-001`](/okf/bodies/CFTC-US-001.md) — Commodity Futures Trading Commission - **AI subject.** Claude Opus 4.7 (web search on) - **Failure mode.** [`misstated_rule`](/okf/taxonomy/failure-modes.md) - **Published.** 2026-06-03T19:51:38.852731+00:00 ## Question put to the AI subject A payment processor issuing a stablecoin backed by reserves held at an OCC-chartered national trust bank asked whether its stablecoin qualifies as a 'payment stablecoin' under the current CFTC digital asset collateral framework — covering both the original December 2025 package and subsequent updates — and whether futures commission merchants can accept it as customer margin collateral. ## AI subject's verbatim answer Staff Letter 25-40 was reissued as Staff Letter 26-05 on February 6, 2026. The substantive change was a revision to the definition of 'payment stablecoin' to add national trust banks as permitted issuers. ## Verbatim regulator text contradicting the answer > Staff Letter 25-40 was 'reissued' as Staff Letter 26-05 with a 'limited revision' expanding the payment stablecoin definition to include stablecoins issued by 'national trust banks.' The OCC Interpretive Letter 1183 provides the hook for national trust bank eligibility. _Source:_ [p_03_NOTICE_CFTC_Staff_Letter_26_05__February_6__202_download.pdf](https://reglegbrief.com/substrate/US/CFTC/DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025/_raw_manual_substrate/p_03_NOTICE_CFTC_Staff_Letter_26_05__February_6__202_download.pdf) _Section anchor:_ CFTC Staff Letter 26-05 (February 6, 2026) — supersession of 25-40 and national trust bank expansion of payment stablecoin definition ## Failure mode **`misstated_rule`** — Misstated rule — the AI gave a definite rule, threshold, or obligation that the regulator's verbatim text does not support. ## Citation-issue types - **Contradictory** — - **Contradictory** — - **Contradictory** — - **Contradictory** — - **Contradictory** — - **Pretextual** — ## Related concepts - Regulation: [DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025](/okf/regulations/DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025.md) - Regulator: [CFTC-US-001](/okf/bodies/CFTC-US-001.md) - Failure-mode taxonomy: [misstated_rule](/okf/taxonomy/failure-modes.md) - Methodology: [v2.3](/okf/methodology.md) - Editorial standards: [right of reply](/okf/editorial-standards.md) ## Reproduction Citation ID: `RLB-H-US-CFTC-DIGITAL-ASSET-COLLATERAL-TOKENIZED-ASSETS-STAFF-GUIDANCE-2025-Q005-Opus47` Resource URL (HTML view of this finding): This finding is reproducible against the substrate document linked above, using the same AI subject, the same methodology version, and the verbatim question text.