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a16z calls for amendment of crypto legislation draft, opposes using existing derivative assets definition as regulatory basis
Summary: According to Cointelegraph, venture capital firm Andreessen Horowitz (a16z) is urging US lawmakers to amend a crypto regulatory bill draft, warning that the framework may have serious loopholes that could jeopardize investor protection mechanisms. In an open letter to the US Senate Banking Committee, a16z suggested regulators address the flaws in the crypto legislation draft. ...
According to Cointelegraph, venture capital firm Andreessen Horowitz (a16z) is urging US lawmakers to amend a crypto regulatory bill draft, warning that the framework may have serious loopholes that could jeopardize investor protection mechanisms. In an open letter to the US Senate Banking Committee, a16z suggested regulators address the flaws in the crypto legislation draft. The letter is a formal response to a discussion draft released at the end of July, based on the CLARITY Act, aimed at soliciting industry feedback and advancing regulatory legislation for crypto assets. a16z specifically pointed out issues with the definition of derivative assets in the draft, referring to tokens sold through investment contracts that do not grant buyers equity, dividends, or governance rights. The letter stated that the 'derivative assets' structure should not become the legislative basis without significant modifications.
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Link: a16z calls for amendment of crypto legislation draft, opposes using existing derivative assets definition as regulatory basis [Copy]
