I will say that many choose to use 70E simply because they don't want to take on the potential liability of creating their own standard. It is a well recognized standard and should an incident occur where you are being challenged about whether you have a sufficient safety program, 70E would be recognized as suitable enough where your own set of rules could be picked apart and challenged and if they find any fault with it then that is on you since you created it.
Just a little FYI, not saying you can't have your own standard.
AFAIK OSHA doesn't mandate using 70E, but because of what went into creating it and the fact it is constantly being worked on and updated periodically makes it a preferred standard to use.