Venture capital firm Andreessen Horowitz (a16z) is planning to discuss cryptocurrency regulation in the US with leaders in the White House this week, CNBC has learned. The firm will reportedly send its top executives to Washington, D.C. this week to discuss regulatory framework with leaders on Capitol Hill and in the White House.
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While the list of officials with whom the executives plan to meet remains undisclosed, the a16z Crypto team said the firm wants to have meetings with "top leaders at the White House, executive agencies, regulators, House, and Senate."
"Web3 is the alternative, it is the solution we have been waiting for. It is the response to the challenges that have emerged out of Web2. And for that reason, it is absolutely critical that policymakers start to undertake the steps required to get this right," Tomicah Tillemann, Global Head of Policy at a16z told CNBC in an interview.
Tillemann also said blockchain can solve many current issues like industry consolidation and data breaches. The move comes after the venture firm hired Brian Quintenz, a former Commissioner of the Commodity Futures Trading Commission (CFTC), as an advisory partner on the crypto team. Quintenz helps the firm to understand on how the CFTC thinks about the issue around the cryptocurrency space.
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