Key Takeaways
- • A16z Crypto's Miles Jennings argued at the October 1, 2026 a16z Crypto Korea Summit that the GENIUS Act creates structural regulatory barriers that make it difficult for future administrations to reverse the onchain migration of finance.
- • The GENIUS Act, signed into law on July 18, 2025, establishes a formal framework for payment stablecoins in the US, including a mandatory 1:1 reserve requirement of high-quality liquid assets for issuers.
- • Jennings framed the legislation as foundational infrastructure that provides regulatory clarity while protecting decentralized protocol development, anchoring stablecoin rules within a durable legal structure resistant to policy reversal.
- • The summit in Seoul reflects a16z Crypto's expanded Asia presence, following the firm's establishment of its first Asian office in Seoul in December 2025, with discussions centered on decentralized finance applications in institutional markets and AI infrastructure integration.
Summary
Miles Jennings, head of policy and general counsel at a16z Crypto, delivered a keynote address at the a16z Crypto Korea Summit in Seoul on October 1, 2026, where he articulated a central thesis: the GENIUS Act creates regulatory durability that makes future policy reversals structurally difficult. Speaking to an audience representing crypto projects including Morpho, Digital Asset, and OP Labs, Jennings positioned the legislation as resistant to changes in political administration, a key concern in an industry historically vulnerable to regulatory whiplash.
The GENIUS Act—the "Guiding and Establishing National Innovation for US Stablecoins Act"—became law on July 18, 2025. It establishes the first comprehensive federal framework for payment stablecoins, the dollar-pegged tokens that facilitate value transfer across blockchain networks. The law imposes rigorous operational requirements on stablecoin issuers, most critically a 1:1 reserve mandate requiring issuers to maintain dollar reserves equivalent to every token issued. Jennings characterized these structural safeguards as foundational to the legislation's staying power: by embedding stablecoin rules within formal regulatory architecture rather than relying on executive discretion, the law creates institutional inertia that raises the political cost of reversal.
Jennings framed the GENIUS Act as solving a dual challenge: providing regulatory clarity and stability to blockchain-based finance while simultaneously creating room for decentralized protocols to mature and compete. This framing reflects a16z Crypto's broader strategy in Asia, where the summit took place at the Chosun Palace Gangnam Hotel. The event highlighted the firm's deepening regional commitment, which accelerated when a16z opened its first Asian office in Seoul in December 2025. Summit discussions extended beyond stablecoin policy to institutional adoption of decentralized finance and the integration of onchain infrastructure with artificial intelligence systems, signaling the firm's view that crypto regulation and blockchain technology are now foundational to financial and computational futures.
The GENIUS Act—the "Guiding and Establishing National Innovation for US Stablecoins Act"—became law on July 18, 2025. It establishes the first comprehensive federal framework for payment stablecoins, the dollar-pegged tokens that facilitate value transfer across blockchain networks. The law imposes rigorous operational requirements on stablecoin issuers, most critically a 1:1 reserve mandate requiring issuers to maintain dollar reserves equivalent to every token issued. Jennings characterized these structural safeguards as foundational to the legislation's staying power: by embedding stablecoin rules within formal regulatory architecture rather than relying on executive discretion, the law creates institutional inertia that raises the political cost of reversal.
Jennings framed the GENIUS Act as solving a dual challenge: providing regulatory clarity and stability to blockchain-based finance while simultaneously creating room for decentralized protocols to mature and compete. This framing reflects a16z Crypto's broader strategy in Asia, where the summit took place at the Chosun Palace Gangnam Hotel. The event highlighted the firm's deepening regional commitment, which accelerated when a16z opened its first Asian office in Seoul in December 2025. Summit discussions extended beyond stablecoin policy to institutional adoption of decentralized finance and the integration of onchain infrastructure with artificial intelligence systems, signaling the firm's view that crypto regulation and blockchain technology are now foundational to financial and computational futures.
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