2 years ago
Andreessen Horowitz (a16z) General Partner Chris Dixon praised the U.K.’s regulatory attack to crypto and announced enlargement plans successful the country, including opening a London office, marking its archetypal planetary presumption extracurricular the U.S.
Recent months person seen U.S. regulators instrumentality an progressively hostile stance toward the integer plus industry, with matters accelerating past week pursuing the SEC lawsuits targeting Binance and Coinbase.
Despite accusations of regulatory overreach by U.S. authorities, adjacent allegations of underhand tactics successful cutting disconnected crypto banking enactment via Operation Choke Point 2.0, a16z reaffirmed its committedness to American operations, saying it intends to proceed lobbying for wide rules.
“we volition stay heavy invested successful the U.S. We proceed to beryllium committed to moving with U.S. policymakers and regulators to propulsion for much regulatory clarity for crypto startups here.”
U.K.’s crypto ambitions “on track.”
Dixon acknowledged the difficulties facing planetary regulators successful balancing capitalist protections with “stamping retired the harmful “casino” culture” emblematic of the crypto manufacture – a occupation exacerbated by the novelty of integer plus technology.
Nonetheless, by section regulators moving with the industry, “laying a foundation” for blockchain-based applications, utilizing a regulatory sandbox, and opting for “Outcomes-based regulation,” Dixon believes Web3 startups successful the U.K. volition flourish.
The tech V.C. steadfast conceded that regulatory hurdles inactive beryllium to resolve. But believes the state is “on the close path” to establishing itself arsenic a Web3 leader, which spurred its determination to acceptable up a London bureau to “grow the crypto and startup ecosystem successful the U.K. and Europe.”
On a16z’s U.K. enlargement plans, U.K. Prime Minister Rishi Sunak commented: :
“That occurrence is founded connected having the close regularisation and guardrails successful spot to support consumers and foster innovation. While there’s inactive enactment to do, I’m determined to unlock opportunities for this exertion and crook the UK into the world’s Web3 centre.”
The station Andreessen Horowitz: Applauds UK’s progressive attack to crypto regulation appeared archetypal connected CryptoSlate.
English (US) 