VC firm a16z pursuing crypto lobbying push in Washington

Oct 13, 2021 | CoinTelegraph News | 0 comments


Andreessen Horowitz executives will seek to guide U.S. policymakers on standards for crypto and Web 3.0.

Anthony Albanese, chief operating officer of Andreessen Horowitz’s (a16z) crypto division, and Katie Haun, general partner at the firm, are among a high-powered delegation from the venture capital giant who will engage with lawmakers and administration officials in the United States on crypto regulations.

According to CNBC on Wednesday, the move is part of efforts by the Silicon Valley-based VC outfit to promote favorable regulation of the emerging Web 3.0 ecosystem.

Speaking to CNBC, a16z global policy chief Tomicah Tillemann decried the broken state of the current Web 2.0 status quo. According to Tillemann, Web 3.0 offers an alternative to the challenges posed by the issues in today’s internet.

In a Web 3.0 policy document issued on Wednesday, the VC firm argued for better regulatory standards for the new internet paradigm, stating, “The easiest way to lose out on all of this potential is to treat web3 as if it were a monolith,” adding:

“Policymakers should focus on calibrating regulatory activities to the specific applications and their associated risks. Treating all digital assets the same is like having a single regulatory framework for stocks, real estate, cars, art, watches, and trading cards. We need policy that’s fit for purpose.”

Related: Former CFTC brass joins Andreessen Horowitz as an advisor

A16z’s current lobbying efforts for digital technology and Web 3.0 come amid fears of stringent policy measures that industry stakeholders say could derail America’s ability to establish itself in the expanding digital economy.

Crypto has come in for some negative comments from policymakers in Washington, with the prevailing rhetoric being that digital assets require more regulatory oversight.

Indeed, a16z joined the push against plans to enact stringent regulatory measures targeted at self-hosted crypto wallets earlier in the year.

Back in August, a16z co-founder Marc Andreessen called crypto a “fundamental technological breakthrough.”

As previously reported by Cointelegraph, the Silicon Valley VC firm launched the largest crypto venture fund valued at $2.2 billion at the time. The fund has since grown to reach a $3.1 billion valuation.

News Source from

Related Articles

Two US banks sign up for bitcoin trading platform from Q2 and NYDIG

New York’s Five Star Bank and California's UNIFY Financial Credit Union are the first U.S. institutions to offer bitcoin trading through a platform from Austin-based Q2 Holdings and New York Digital Investment Group (NYDIG).  Through the so-called Q2 Digital Banking...

Terra’s Do Kwon Was Served by SEC at Crypto Conference

Crypto Twitter was abuzz last month after a speaker at the Messari Mainnet cryptocurrency conference in New York was served with a subpoena by someone representing the U.S. Securities and Exchange Commission—witnessed by Indiegogo founder and Mainnet attendee Slava...

Pin It on Pinterest

Share This