Be aware that using language features related to currency is a dangerous trap. It's like trying to use domain or email parsing features that have a hardcoded list of TLDs.
Sure, it's convenient for the poor designer that has to figure out the UI but it will likely come back to bite you later.
Forcing a format like /^[a-z]{3}$/i is also dangerous because it will encourage squatting on codes that may become legitimate ISO 4217 codes in future.
I recommend @marcoscaceres approach for the default currency system (ISO4217) but would encourage some sane limits for other systems too (maybe just a max length and limited charset?)
**Use case:** Buy an upgrade on delta.com using the currency SKYMILES
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