The builder-routing piece is the sharp edge here: compliance moves from ERC-3643-style transfer rules into the transaction supply chain itself. UBS/Nethermind tested policy-aware nodes that whitelist destinations, block contract interactions, and send approved bundles to selected builders on Sepolia, with no live txs. Ethereum L1 stays neutral, but regulated RWA flow starts depending on private mempool rails, relay policy, and builder access.

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