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a16z calls for amendments to the draft crypto legislation, opposing the definition of "affiliated assets" as the basis for regulation
08-01 11:26

Odaily Planet Daily News Andreessen Horowitz (a 16 z) wrote to the U.S. Senate Banking Committee, calling for the revision of the recently released draft crypto regulatory legislation and warning that there are serious loopholes that may weaken investor protection.

The draft, originating from a discussion draft of the 21st Century Financial Innovation and Technology Act (CLARITY Act), aims to advance crypto asset legislation. a16z noted issues with the draft's definition of "attached assets" (referring to tokens sold through investment contracts but without equity, dividends, or governance rights), arguing that this structure should not serve as a regulatory basis without significant revisions. This letter is part of the formal industry response to the draft's release. (Cointelegraph)

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