The Ethereum design docs could link to direct-listed premined [stable] coins as a solution for Proof of Work and TPS reports: https://github.com/flare-eng/coston#smart-contracts-with-xrp

(edit) re: n-layer solutions: The https://interledger.org/ RFCs and something like Transaction Permission Layer (TPL) will probably be helpful for interchain compliance.

> Interledger is not tied to a single company, blockchain, or currency.

From https://tplprotocol.org/ :

> The challenge: Current blockchain-based protocols lack an effective governance mechanism that ensures token transfers comply with requirements set by the project that issued the token.

> Projects need to set requirements for a variety of reasons. For instance, remaining compliant with securities laws, limiting transfer to beta testers, or limiting transfer to a particular geo-spatial location. Whatever your reason, if a requirement can be verified by a third-party, TPL will be able to help.

In the US, S-Corps can't have international or more than n shareholders, for example; so if firms even wanted to issue securities on a first-layer network, they'd need an extra-chain compliance mechanism to ensure that their issuance is legal pursuant to local, sovereign, necessary policies. Re-issuing stock certificates is something that has to be done sometimes. When is it possible to cancel outstanding tokens?