According to Foresight News, investment firm Andreessen Horowitz (a16z) sent an open letter to the U.S. Senate Banking Committee, proposing amendments to the latest draft cryptocurrency regulatory bill. The company pointed out that the definition of "affiliated assets" in the bill has loopholes that may harm investors' interests.
a16z suggested adopting a "digital commodity" regulatory framework, retaining the existing Howey Test standard, and recommended preventing insider trading through decentralized control mechanisms. Meanwhile, the company argued that the basic technical operations of blockchain systems (such as consensus algorithms, mining, staking, and smart contract execution) should not be classified as regulated financial activities.
