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Digital Asset Advocacy: a16z Crypto Allocates $23 Million to Support Policy Formation
Andreessen Horowitz’s digital asset division, a16z crypto, has announced a significant investment in digital asset policy formation. The venture capital giant will allocate $23 million to support pro-blockchain politicians and advocate for a practical regulatory framework in Washington.
A Long-Term Commitment to Crypto Policy
A16z managing partner Chris Dixon explained that the firm’s decision stems from a non-partisan, long-term view on cryptocurrency policy. Dixon emphasized that the firm is committed to supporting policymakers, irrespective of party affiliation, who will work to establish a regulatory framework that protects consumers while allowing the industry to grow.
Regardless of what happens in the 2024 elections, we’re committed to supporting policymakers, irrespective of party affiliation, who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow.
Challenging Arbitary Enforcement Actions
Many digital asset advocates argue that agencies like the Securities and Exchange Commission and the U.S. Treasury Department have bypassed clear rule-making processes in favor of arbitrary enforcement actions and crackdowns. A16z aims to challenge these efforts and advocate for blockchain’s benefits with meetings on Capitol Hill.
Fairshake: A Preferred Super PAC for Crypto Advocacy
Fairshake has become one of crypto’s preferred super PACs during the 2024 election cycle as the industry seeks to challenge the status quo and push for reasonable regulations. Firms such as a16z, Coinbase, Gemini, and Ripple have invested millions in Fairshake’s bipartisan lobbying efforts to elect crypto-friendly legislators across various states.
Crypto Industry Outspends Other Sectors in the 2024 Elections
The crypto industry has outspent every other sector this election, donating over $190 million to candidates from both parties. Reports suggest that Congressional contests have captured the bulk of crypto’s election cash.
Industry Leaders Predict a Pro-Crypto Congress
Industry leaders like Coinbase CLO Paul Grewal believe that America will witness its first pro-crypto congress, regardless of who sits in the White House. This prediction is based on the significant investments made by the crypto industry in the 2024 elections.
Crypto Advocacy Tips:
- Support pro-blockchain politicians and policymakers.
- Advocate for a practical regulatory framework that protects consumers and allows the industry to grow.
- Challenge arbitrary enforcement actions and crackdowns by regulatory agencies.
- Invest in bipartisan lobbying efforts to elect crypto-friendly legislators.
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