According to CoinMeta, Jito Labs Chief Operating Officer and Chief Legal Officer Rebecca Rettig stated that financial institutions such as banks do not need to rely on permissioned blockchains; they can operate legally on permissionless blockchains through application-layer compliance controls. What the relevant laws require is reasonable control commensurate with the risks, rather than control over the underlying infrastructure. In November 2025, the US Federal Reserve Board confirmed that banks can pay network fees on blockchains and hold crypto assets. Zero-knowledge proofs and confidential transfer technologies allow institutions to prove compliance to regulators without disclosing customer positions, which is in line with the US Genius legislation.