A16z General Partner Arianna Simpson believes that the US needs to establish a stronger regulatory framework that instills confidence in crypto firms and allows them to build technology products without fear of repercussions.
Bitcoin and cryptocurrency companies are moving offshore because there is not enough guidance in the U.S.
The lack of specific guidance is actually pushing legitimate companies offshore, she claims, because they actually want to be compliant.
This comes at a time when major US regulators have launched an aggressive crackdown on the crypto industry following the collapse of the crypto exchange FTX. A16z has raised $7.6 billion for its crypto funds, but has not deployed all of its funds into the market.
It recently opened its first international office in London, which some interpreted as a sign of uncertain regulatory conditions in the United States.a16z to Remain Focused on Digital Assets While there has been a shift in the VC landscape towards artificial intelligence, Simpson makes it clear that a16z is not pivoting
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