thejohnnycrypto on Nostr: “The policy is fully baked.” Miles Jennings, General Counsel & Head of ...
“The policy is fully baked.”
Miles Jennings, General Counsel & Head of Decentralized Policy at a16z crypto, used that line at the SALT Wyoming Blockchain Symposium while discussing years of work on U.S. digital asset market structure.
His focus was a gap that agency action alone has struggled to address: spot digital commodity markets. Existing regulators operate through authority granted by current statutes, and Jennings argued that those laws leave parts of the digital asset market without a complete framework suited to disintermediated technology.
That uncertainty also affects investment decisions. Firms considering new products, infrastructure, or U.S. expansion have to make long-term commitments while important questions about market oversight remain unsettled.
Jennings made these comments ahead of the September 15 procedural vote, which he described as a potential starting point for the bill’s final negotiations.
The structural takeaway:
✅ Spot digital commodity markets remain a central legislative issue
✅ Existing statutory authority sets boundaries on what agencies can address
✅ Disintermediated systems create market-structure questions that older frameworks did not contemplate
✅ Regulatory frameworks influence where institutions commit capital and build infrastructure
The policy debate now reaches into the basic architecture of digital asset markets, including who supervises activity and how decentralized systems fit within regulated finance.
Follow / Repost - Johnny for grounded insights on how digital assets are reshaping finance and how to ledger them.
#thejohnnycrypto #bitcoin #Stablecoins #staking #BTC
Published at
2026-09-19 02:21:31 UTCEvent JSON
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"content": "“The policy is fully baked.”\n\nMiles Jennings, General Counsel \u0026 Head of Decentralized Policy at a16z crypto, used that line at the SALT Wyoming Blockchain Symposium while discussing years of work on U.S. digital asset market structure.\n\nHis focus was a gap that agency action alone has struggled to address: spot digital commodity markets. Existing regulators operate through authority granted by current statutes, and Jennings argued that those laws leave parts of the digital asset market without a complete framework suited to disintermediated technology.\n\nThat uncertainty also affects investment decisions. Firms considering new products, infrastructure, or U.S. expansion have to make long-term commitments while important questions about market oversight remain unsettled.\n\nJennings made these comments ahead of the September 15 procedural vote, which he described as a potential starting point for the bill’s final negotiations.\n\nThe structural takeaway:\n✅ Spot digital commodity markets remain a central legislative issue\n✅ Existing statutory authority sets boundaries on what agencies can address\n✅ Disintermediated systems create market-structure questions that older frameworks did not contemplate\n✅ Regulatory frameworks influence where institutions commit capital and build infrastructure\n\nThe policy debate now reaches into the basic architecture of digital asset markets, including who supervises activity and how decentralized systems fit within regulated finance.\n\nFollow / Repost - Johnny for grounded insights on how digital assets are reshaping finance and how to ledger them.\n\n#thejohnnycrypto #bitcoin #Stablecoins #staking #BTC\n\nhttps://blossom.primal.net/b33b0564951ede42afc02958f735d3cd14dc93f9dcf9d00365fe6f2f0f93392c.jpg",
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