According to Jake Chervinsky, many product-specific L1s are unnecessary from a US regulatory standpoint because no US regulator has asked for permissioned validator sets or built-in compliance tools, source: Jake Chervinsky on X, Sep 5, 2025. Chervinsky states that no serious legislative effort in Congress has contemplated such requirements and warns that crypto policy should not compromise the core principle of base layer neutrality for special approval, source: Jake Chervinsky on X, Sep 5, 2025. For trading, this indicates that compliance-driven narratives for permissioned L1s lack current policy support and should be discounted relative to decentralized public blockchains, which Chervinsky says remain the standard, source: Jake Chervinsky on X, Sep 5, 2025.