Andreessen Horowitz, a venture capital company focused on crypto innovation, brought several Washington regulators together to promote crypto adoption and discuss regulation. The May event includes representatives from the U.S. Treasury, SEC, and CFTC alongside some of the most influential blockchain companies, reported the Wall Street Journal.
Behind the scenes, a16z is quietly fighting for crypto
Andreessen Horowitz was one of the first to invest in tech giants such as Facebook, Airbnb, and GitHub. Now, the venture fund is leading the way in crypto innovation. Following its success in the traditional startups, the Silicon Valley firm launched a $300 million fund for crypto investments, spearheading the crypto revolution.
A report from The Wall Street Journal revealed that alongside its hefty investments, the company is quietly working on improving crypto regulations in the U.S. According to the Sept. 2 report, the company held a full-day, private conference in San Francisco in late May, where they brought together Washington regulators and heads of major crypto and blockchain projects.
The meeting was supposed to act as an ice-breaker and facilitate the much-needed discussion between those governing the financial sector and those set to disrupt it.
Marc Andreessen, the founder of a16z, held an optimistic speech at the beginning of the event and called for regulators to be more open-minded toward cryptocurrencies. The crypto industry today resembles the internet in its early days, he said, adding that it has the potential to disrupt the world in the same way.