According to Cointelegraph on August 1st, venture capital firm Andreessen Horowitz (a16z) called on US legislators to modify a draft crypto regulatory bill, warning that the framework may have serious loopholes that could jeopardize investor protection mechanisms. In an open letter to the US Senate Banking Committee, a16z suggested that regulators address the gaps in the crypto legislation draft. This letter was a formal response to the discussion draft released at the end of July. The draft was based on the CLARITY Act and aimed to seek industry input to advance crypto asset regulatory legislation. a16z specifically pointed out issues with the definition of "affiliate assets" in the draft, referring to tokens sold through investment contracts that do not grant the buyer equity, dividends, or governance rights. The letter stated: "The 'affiliate assets' structure should not serve as the basis for legislation without significant modifications."
a16z calls for amendments to the draft crypto legislation, opposing the use of the existing definition of "affiliated assets" as the basis for regulation
This article is machine translated
Show original
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share




