[Jito Labs Executive: Banks and Financial Institutions Can Operate Compliantly on Permissionless Blockchains] Rebecca Rettig, Chief Operating Officer and Chief Legal Officer of Jito Labs, stated in an article published by a16z crypto that some banks mistakenly believe they must use permissioned networks to meet the requirements of the Bank Secrecy Act and sanctions laws. In reality, financial institutions can operate compliantly on permissionless blockchains. The article explains that the relevant legal requirements call for reasonable controls proportional to risk, rather than zero risk or control over the underlying infrastructure. In November 2025, the U.S. Office of the Comptroller of the Currency confirmed that banks can pay network fees on blockchains and hold related crypto assets. The article also highlights that technologies such as zero-knowledge proofs and confidential transactions enable institutions to demonstrate compliance to regulators without disclosing customer positions. The article argues that this aligns with the recently passed GENIUS Act in the United States, which places anti-money laundering and sanctions controls at the application layer.