Regulated commodities are traditionally traded on a central exchange under the oversight of a governmental body. A decentralized regulated economy is more trustworthy and resilient as opposed to a centralized economy, and blockchains are a suitable protocol for defining these decentralized markets. Unfortunately, existing blockchain protocols are designed primarily for crypto-assets, and are unsuitable for deployment in regulated markets. In this talk, we define a new blockchain architecture to accommodate the regulator for the borderless, decentralized trade of regulated commodities, and present ZenCouncil, a novel blockchain consensus protocol for this architecture. We also outline the time complexity of our protocol for different market settings, and show that ZenCouncil can be seen as a generalization of both permissionless and permissioned blockchains.