miles jennings(@milesjennings ):People are overthinking it. It’s as straightforward as possible. Step 1. Use an ordinary C-corp startup to raise private capital to develop a “distributed ledger system”. Step 2. Use the same C-Corp to raise capital by selling network tokens to the general public and filing contemporaneous disclosures. Step 3. Launch the token and commencement of “gratuitous distributions” (including airdrops if desirable). Step 4. Comply with ancillary asset regulatory regime.

miles jennings

@milesjennings

@a16zcrypto | Prev Partner @Lathamwatkins | Write about crypto policy, decentralization, tokens & more -

Joined March 2009

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miles jennings@milesjennings

2026.05.13 22:57

People are overthinking it. It’s as straightforward as possible. Step 1. Use an ordinary C-corp startup to raise private capital to develop a “distributed ledger system”. Step 2. Use the same C-Corp to raise capital by selling network tokens to the general public and filing contemporaneous disclosures. Step 3. Launch the token and commencement of “gratuitous distributions” (including airdrops if desirable). Step 4. Comply with ancillary asset regulatory regime.