A16z Cryptoās Miles Jennings says the Genius Act makes the onchain shift hard to reverse
Speaking at the a16z Crypto Korea Summit in Seoul, the firm's policy chief framed the US stablecoin law as a durable foundation for onchain finance
Policy in Washington has a habit of changing whenever the people in charge do. Miles Jennings thinks the GENIUS Act is built to resist that.
Speaking at the a16z Crypto Korea Summit in Seoul on October 1, 2026, Jennings said the US stablecoin law made it hard for future hostile administrations to undo the migration of finance onto blockchains.
Jennings serves as head of policy and general counsel at a16z Crypto. He delivered the event’s keynote on global digital asset policy, and the GENIUS Act sat at the center of his remarks.
What Jennings said in Seoul
The summit took place at the Chosun Palace Gangnam Hotel in Seoul.
His argument centered on how the GENIUS Act anchors stablecoin rules inside a structured regulatory framework. In his framing, that structure is what makes the law resistant to future administrations that might prefer to roll things back.
The GENIUS Act was signed into law on July 18, 2025. It sets up a framework for payment stablecoins in the US, the dollar-pegged tokens that move value across crypto networks.
The law imposes strict requirements on issuers. Among the most important: stablecoin issuers must hold 1:1 reserves of high-quality liquid assets.
Jennings described the act as a foundational measure. He framed it as a way to give decentralized protocols room to grow while adding clarity and stability to the broader regulatory picture.
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Who showed up, and why Seoul
The summit drew representatives from a range of crypto projects. Morpho, Digital Asset, and OP Labs were among the participants.
Discussions focused on how decentralized finance could transform institutional finance. Speakers also explored what onchain infrastructure could mean for integrating artificial intelligence.
The event is part of a16z’s push into Asia, which began in earnest when the firm announced a new office in Seoul in December 2025. It was a16z’s first office in Asia.
The a16z event also landed in a busy stretch for policy talk in the city. In September 2026, events including the Upbit Institutional Summit, known as UIS 2026, featured stablecoin discussions with US officials in attendance.
EastPoint: Seoul 2026 also hosted high-profile policy conversations. At these gatherings, US officials reiterated their commitment to refining legislation around stablecoins and related technologies.
Why durability is the real story
A statute is a different animal from agency guidance. Unwinding a law passed by Congress generally requires Congress to act again, which is a far slower and more public process than reversing an agency stance.
By writing stablecoin rules into law with firm requirements like the 1:1 reserve standard, the GENIUS Act raises the cost of any future attempt to reverse course.
What this means for the market
A clearly defined regulatory environment could give stablecoin issuers improved access to traditional financial markets and institutional investors. That access, in turn, could enhance liquidity and market stability.
As South Korea and the broader Asian market deepen their engagement with digital asset infrastructure, alignment with US rules could encourage cross-border investment and joint initiatives.
US officials in Seoul talked about refining stablecoin legislation and working toward effective market structure and compliance, which suggests the GENIUS Act is a starting point rather than the final word.