The regulation of cryptocurrency has turned into a hot topic in several recent years. For dealing with such legal technicalities in between the constantly evolving regulatory scenarios, a former frontrunner of the CFTC (Commodity-Futures-Trading-Commission) of the United States has been invited by the VC (venture capital) firm called Andreessen Horowitz.
Katie Haun (the general partner of Andreessen Horowitz), during a Thursday announcement, stated that the regulatory and policy issues are always a priority for the firm as a portion of its larger struggle to verify that it contains an outstanding support system. She added that the company is enthusiastic while announcing that Brian Quintenz (a CFTC ex-commissioner) has confirmed to shake hands with the firm by occupying the place of an advisor.
In the last year particularly, a considerable regulatory discussion has been witnessed within and out of the United States. In 2020’s December, the U.S. Department of Treasury targeted at increasing the surveillance of digital asset wallets that are self-hosted. Similarly, more recently, the infrastructure bill of the United States contained the terminology due to which a significant pressure could be built on the expediting crypto world. Several moves regarding crypto regulation have also been taken by some other countries as determined by their actions confronting Binance (the exchange for digital assets).
Andreessen Horowitz appears to have acknowledged the current regulatory promptness surrounding the industry of cryptocurrency. Thus, it sought after giving some support to the crypto entities existing in the portfolio thereof. Haun mentioned that the portfolio projects of the company are excelling in ways that were unimagined previously; therefore, the company’s investment in those projects has to be above than only financial. The firm is pursuing to deliver them a complete collection of resources to make them successful, according to Haun.
The U.S. SEC (Securities-and-Exchange-Commission) and the CFTC are counted as the regulatory agencies frequently discussed whenever the legal guidelines contradict with crypto. While elaborating on the significance of acquiring a former regulatory head, Haun expressed that the CFTC has a vital role in being a federal regulator and exercising authority on cryptocurrencies, utility tokens, as well as non-security entities. Brian has for a long time served being an advanced thinker regarding digital currencies and DeFi (decentralized-finance) world. He comprehends both the working of crypto technology and CFTS’s thinking regarding the matter, she added.