a16z CEO Supports Crypto Regulation

Anthony Albanese, Chief Executive Officer of the crypto division of Andreessen Horowitz (a16z) and Katie Haun, General Partner of the firm, are part of a high-level delegation from the venture capital giant who advocates lawmakers and administrators in the United States regarding regulation of cryptocurrency.

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

In an interview with CNBC, Tomicah Tillemann, Global Policy Director of a16z, criticized the failure of the current Web 2.0 status quo. According to Tillemann, Web 3.0 offers an alternative to the challenges posed by today’s Internet problems.

In a Web 3.0 policy document released on Wednesday, the VC firm advocated better regulatory standards for the new Internet model: “The easiest way to lose all of this potential is to treat Web3 like a monolith,” added:

“Policy makers should focus on tailoring regulatory activities to specific applications and the associated risks. Treating all digital assets equally is like having a single regulatory framework for stocks, real estate, cars, art, watches, and trading cards. We need an appropriate policy. “

Related: Former CFTC fellow Andreessen Horowitz joins as a consultant

A16z’s current lobbying efforts on digital technology and Web 3.0 come amid concerns about tough policies that industry officials say could undermine America’s ability to establish itself in the expanding digital economy.

Cryptocurrencies have faced some negative comments from Washington policymakers, with the prevailing argument that digital assets require more regulatory oversight.

In fact, earlier this year a16z was involved in promoting plans to put tough regulatory measures in place against self-hosted crypto wallets.

As early as August of a16z, co-founder Marc Andreessen described cryptocurrency as a “fundamental technological breakthrough”.

As previously reported by Cointelegraph, the Silicon Valley VC company launched the largest crypto venture fund at the time, valued at $ 2.2 billion. Since then, the fund has grown to a valuation of $ 3.1 billion.