VC firm a16z pursuing crypto lobbying push in Washington

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Anthony Albanese, chief working officer of Andreessen Horowitz’s (a16z) crypto division, and Katie Haun, basic companion on the agency, are amongst a high-powered delegation from the enterprise capital large who will interact with lawmakers and administration officers within the United States on crypto laws.

According to CNBC on Wednesday, the transfer is a part of efforts by the Silicon Valley-based VC outfit to advertise favorable regulation of the rising Web 3.0 ecosystem.

Speaking to CNBC, a16z international coverage chief Tomicah Tillemann decried the damaged state of the present Web 2.0 established order. According to Tillemann, Web 3.0 affords an alternative choice to the challenges posed by the problems in at this time’s web.

In a Web 3.0 coverage doc issued on Wednesday, the VC agency argued for higher regulatory requirements for the brand new web paradigm, stating, “The easiest way to lose out on all of this potential is to treat web3 as if it were a monolith,” including:

“Policymakers should focus on calibrating regulatory activities to the specific applications and their associated risks. Treating all digital assets the same is like having a single regulatory framework for stocks, real estate, cars, art, watches, and trading cards. We need policy that’s fit for purpose.”

Related: Former CFTC brass joins Andreessen Horowitz as an advisor

A16z’s present lobbying efforts for digital know-how and Web 3.0 come amid fears of stringent coverage measures that business stakeholders say may derail America’s skill to ascertain itself within the increasing digital financial system.

Crypto has are available for some unfavourable feedback from policymakers in Washington, with the prevailing rhetoric being that digital belongings require extra regulatory oversight.

Indeed, a16z joined the push towards plans to enact stringent regulatory measures focused at self-hosted crypto wallets earlier within the 12 months.

Back in August, a16z co-founder Marc Andreessen known as crypto a “fundamental technological breakthrough.”

As beforehand reported by Cointelegraph, the Silicon Valley VC agency launched the biggest crypto enterprise fund valued at $2.2 billion on the time. The fund has since grown to succeed in a $3.1 billion valuation.