US venture capital firm Andreessen Horowitz (a16z) has announced plans to open an overseas office in the UK in late 2023 amid regulatory uncertainty in the US.
a16z general partner Chris Dixon said the firm is “working with policy makers and regulators around the world.” According to him, the talks demonstrated the desire of the United Kingdom to develop Web3-direction.
“The UK authorities are also ready to work with the industry to create rules that encourage decentralized start-ups. In particular, policy makers and regulators are taking an approach that is uniquely tailored to the regulation of blockchain and digital assets,” Dixon explained.
Among the advantages of jurisdiction in a16z noted:
- constructive work with the cryptocurrency market;
- laying the foundation for future blockchain applications;
- innovative approach to industry regulation;
- government focus on results;
- consumer rights Protection.
The company added that they will continue to develop their business in the US and seek “greater clarity on regulatory rules for crypto startups.”
Venture firm announces expansion amid litigation SEC with Binance and Coinbase. The regulator accused the platforms of trading unregistered securities.
Earlier, Hong Kong-based blockchain game operator Animoca Brands decided to focus on “more progressive jurisdictions” outside of the US.
Recall that Solana and Polygon criticized the SEC for classifying their native tokens as securities.
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!