a16z has started hiring regulatory personnel.
Public.icon
Coinbase approached the SEC with a proposal to launch a lending product that would offer yields on stablecoins. However, the SEC responded with an attitude of "this lending product is related to securities" and "we will sue you if you launch it".
And because the SEC has not provided clear guidelines, Coinbase is now in a position where it is lobbying through blog posts and tweets.
Similar cases are increasing in the American DeFi community, and a16z has also begun to strengthen its hiring efforts. Recently in the United States, there has been an increase in regulatory topics such as the infrastructure bill. In response, Andreessen Horowitz (a16z) has announced that it has strengthened its team by hiring Brian Quintenz, a former commissioner of the CFTC (a US government agency), as an advisor. Brian is a commissioner who was strong in crypto during his four years at the CFTC. During this time, the CFTC approved futures contracts for BTC and ETH for the first time on a derivative exchange.
In addition, a16z has been hiring many regulatory personnel, including:
Anthony Albanese (former COO of the New York Stock Exchange)
Tomika Tilman (a person who served as a senior advisor to President Biden)
Bill Hinman (former top corporate finance official at the SEC, who gave a speech saying that ETH is not a security)
Brent McIntosh (former Under Secretary of the Treasury for International Affairs)
Statement
/emoji/twitter.icon a16z issued a statement in response to the Senate Banking Committee seeking input on clarifying laws related to digital assets and decentralized technology. The statement includes four proposals related to the legal status of DAOs off-chain, tax reporting, and more. Crypto-related products that are likely to be popular in the futureCrypto-related products that are likely to be popular in the future.icon October 6, 2021