miles jennings(@milesjennings ):Not the only way, but the easiest and simplest way. Projects should embrace simplicity. Not sure about “delivering onchain value” via tokens that don’t constitute network tokens. The network token definition stipulates that if a token provides onchain value, it’s a network token. If a token provides offchain value, it’s not a network token and likely remains subject to securities laws. The bill doesn’t really address anything other than network tokens and NFTs, unless you’re referring to tokenized securities in 505.

miles jennings

@milesjennings

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

Joined March 2009

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miles jennings@milesjennings

2026.05.14 00:03

Not the only way, but the easiest and simplest way. Projects should embrace simplicity. Not sure about “delivering onchain value” via tokens that don’t constitute network tokens. The network token definition stipulates that if a token provides onchain value, it’s a network token. If a token provides offchain value, it’s not a network token and likely remains subject to securities laws. The bill doesn’t really address anything other than network tokens and NFTs, unless you’re referring to tokenized securities in 505.