a16z is expanding to the UK.
“Our assessment is the UK is ahead of the curve and instituting crypto policies that will eventually becoming a global standard” - Chris Dixon, Andreessen Horowtiz
Over the last year it has become clear that blockchains and the software movement around them - can only succeed with a clear regulatory regime that provides an open pathway for startups while also protecting consumers from fraud and manipulation.
This regulation should be aimed at stamping out the “casino” culture that has developed around crypto, while also allowing constructive applications to reach their full potential.
We have been working with policymakers and regulators across the globe, and during our discussions it has become clear that the UK government sees the promise of web3.
More specifically, the UK policymakers and regulators are taking an approach that is uniquely tailored to blockchain and digital asset regulation. This includes:
- Working constructively with industry to identify the unique attributes of blockchain technology and how those attributes shape the risk profile of decentralized services vs. centralized services.
- Laying the foundation for future applications of blockchain technology.
- Putting forth an innovative sandbox approach to regulation.
- Focusing on an outcomes-based approach.
- All the while continuing to keep consumer protection front-and-center of any regulation.
While there is still work to be done, we believe that the UK is on the right path to becoming a leader in crypto regulation.
The UK also has deep pools of talent, world-leading academic institutions, and a strong entrepreneurial culture. And LawBEAM. (Okay, we added the last sentence.)