ARTICLE
21 November 2025

Regulate Applications, Not Protocols: Stablecoins, DeFi And Internet Ownership (Video)

D
Dechert

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Dechert is the law firm that helps business leaders lead. For more than 150 years, we have advised clients on critical issues – from high-stakes litigation to first-in-market transaction structures and complex regulatory matters. Our lawyers in commercial centers worldwide are immersed in the key sectors we serve – financial services, private capital, real estate, life sciences and technology. Dechert delivers unwavering partnership so our clients can achieve unprecedented results.
How are blockchains creating an ownership layer for the internet, shifting identity and value from intermediaries to users?
United States Technology
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How are blockchains creating an ownership layer for the internet, shifting identity and value from intermediaries to users? In this installment of Dechert's Leading on Crypto, partner Neel Maitra is joined by a16z Chief Compliance Officer Scott Walker to discuss his firm's unwavering crypto conviction – even through the so-called "Crypto Winter" – and the meaning behind the firm's "regulate applications, not protocols" mantra. Walker also highlights stablecoins' evolution into global payment rails and settlement/collateral infrastructure, institutional grade on chain governance, modular, application specific chains improving user experience and much more!

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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