[Variant Chief Legal Officer: Public Blockchains Remain the Regulatory Standard for Product Development] According to a report by Jinse Finance, Variant Fund Chief Legal Officer Jake Chervinsky stated that despite the emergence of enterprise-controlled L1 networks recently, decentralized public blockchains remain the regulatory standard for product development. Chervinsky noted on the social media platform X that, from a regulatory perspective, many new L1s built by companies for specific product reasons are 'unnecessary' and 'unhelpful.' He emphasized that no U.S. regulatory agency currently requires permissioned validator sets or built-in compliance tools, nor has Congress seriously considered such legislation.