According to Foresight News, a16z stated at the cryptocurrency working group meeting of Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission: "If the SEC could provide guidance on token issuance, it would prevent the trend of tokens being issued only to non-U.S. citizens—a trend that effectively transfers ownership of blockchain technologies developed in the United States overseas."
a16z: If the SEC provides guidance on token issuance, it can prevent the transfer of ownership of blockchain technology developed in the United States to overseas
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