TechFlow, September 6 — According to CryptoSlate, Jake Chervinsky, Chief Legal Officer of Variant Fund, said that despite the recent emergence of enterprise-controlled L1 networks, decentralized public blockchains remain the regulatory benchmark for product development.
Chervinsky noted on social media platform X that, from a regulatory standpoint, the new L1s built by many companies for specific product purposes are "unnecessary" and "unhelpful." He emphasized that no U.S. regulator currently requires permissioned validator sets or built-in compliance tools, and Congress has not seriously considered such legislation.
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