In a Permissioned Financial Network, Who Typically Acts as the Governing Body?

The governing body is typically a consortium of founding financial institutions, such as major banks, clearinghouses, or regulatory bodies, that established the network. They pre-determine the rules, approve new members, and control the validation nodes.

This structure ensures that the network adheres to existing financial regulations and internal compliance standards. Unlike a DAO, decision-making is centralized among these known, regulated entities.