Miles Jennings, head of policy and general counsel at a16z Crypto, stated that the GENIUS Act creates a durable regulatory framework for onchain finance. Speaking at the a16z Crypto Korea Summit in Seoul on October 1, 2026, he argued that the law makes it difficult for future administrations to reverse the shift of financial operations to blockchains.
The GENIUS Act, signed into law on July 18, 2025, establishes a regulatory framework for US payment stablecoins. A key requirement of the legislation mandates that issuers maintain 1:1 reserves of high-quality liquid assets. Jennings noted that embedding these rules into a statute, rather than agency guidance, significantly increases the cost and complexity of any potential policy reversal.
The summit in Seoul included representatives from crypto projects such as Morpho, Digital Asset, and OP Labs. Participants discussed the integration of decentralized finance with institutional systems and the role of onchain infrastructure in AI development. This event aligns with a16z’s expansion into Asia, which included the opening of its first regional office in Seoul in December 2025.
The discussion occurred during a period of intense policy focus in Seoul, following events like the Upbit Institutional Summit in September 2026. US officials present at these gatherings emphasized their commitment to refining stablecoin legislation and market compliance. These efforts suggest that the GENIUS Act serves as a foundational step toward broader regulatory clarity.
