Andreessen Horowitz Plans to Meet With Washington Policymakers Over Web 3: Report

The firm’s executives will encourage policymakers to create a national strategy for Web 3 technologies and develop appropriate regulations for the full range of products and services.

Oct 13, 2021 at 10:59 a.m. UTC
Updated Oct 13, 2021 at 2:03 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Venture capital (VC) firm Andreessen Horowitz (a16z) is planning to meet with leaders in Washington over the regulation of the next generation of the internet, commonly known as Web 3.

  • Several executives from the VC firm, which has a significant crypto fund in its portfolio, will tell policymakers at Capitol Hill and the White House why they should regulate Web 3, CNBC reported on Wednesday.
  • A16z defines Web 3 as “a group of technologies that encompasses blockchain, cryptographic protocols, digital assets, decentralized finance and social platforms.”
  • The firm’s executives will encourage policymakers to create a national strategy for these technologies, developing appropriate regulations for the full range of products and services beyond just those that would be regulated by the U.S. Securities and Exchange Commission.
  • A16z recently outlined what it sees as the key issues in decentralized finance (DeFi), suggesting the areas in which the U.S government could govern crypto and blockchain.
  • Tomicah Tillemann, a16z’s global head of policy, told CNBC how blockchain technology can decentralize technology, the importance of which is highlighted by current issues with consolidation of data and security breaches.
  • “Web 3 is the alternative, it is the solution we’ve been waiting for. It is the response to the challenges that have emerged out of Web 2,” he said, referring to the current internet paradigm of user-generated content hosted by social media networks. “And for that reason, it is absolutely critical that policymakers start to undertake the steps required to get this right.”
  • A16z did not immediately respond to CoinDesk’s request for comment.


The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley is a CoinDesk news reporter based in London.

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
Morgan Stanley Warns NFTs Next to Watch After UST Collapse, Bukele Announces Mega Banks Meeting in El Salvador

The most valuable crypto stories for Monday, May 16, 2022.

The most valuable crypto stories for Monday, May 16, 2022.

2
First Mover Asia: Metaverse ETFs Are Underperforming Gaming ETFs; Cryptos Return to the Red

Public interest continues to grow about the metaverse, but not as much in metaverse ETFs. Does crypto belong in everything?

Public interest continues to grow about the metaverse, but not as much in metaverse ETFs. Does crypto belong in everything?

3
Coinbase Expands Features, Allowing Some App Users to Access Ethereum-Based Dapps

The move will let Coinbase users purchase NFTs, trade on decentralized exchanges and borrow and lend on various DeFi platforms.

The move will let Coinbase users purchase NFTs, trade on decentralized exchanges and borrow and lend on various DeFi platforms.

4
S&P Global Ratings Forms DeFi Group to Build Out Crypto Framework

The credit rating giant named Charles "Chuck" Mounts as chief DeFi officer to lead the unit.

The credit rating giant named Charles "Chuck" Mounts as chief DeFi officer to lead the unit.