TREE NEWS update: Jito Labs chief operating officer and chief legal officer Rebecca Rettig said banks can operate compliantly on permissionless blockchains, arguing in an a16z crypto piece that the Bank Secrecy Act and sanctions rules require risk-proportionate controls rather than zero risk or control of underlying infrastructure. She noted the OCC confirmed in November 2025 that banks may pay network fees on blockchains and hold related crypto assets, and said zero-knowledge proofs and confidential transfers let institutions prove compliance without disclosing client positions.
Jito Labs COO: Banks Can Comply on Permissionless Blockchains
AI take
The significance here is reframing compliance as a control-design problem rather than a chain-permissioning one, which pushes back on the assumption that regulated banks need walled-garden infrastructure. If that reading holds, it widens the addressable venue set for institutions beyond private or permissioned networks, with privacy tooling cast as the bridge rather than a blocker. The open question is whether supervisory practice follows the OCC's stated position, since guidance and examination expectations do not always move together.
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