During his years of shephering its portfolio companies through regulatory waters in the United States, Andresseen Horowitz (A16Z) have made several proposals to keep the securities laws away from crypto activity, and a new petition for Securities and Exchange Commission is seeking such protection for decentralized financing (Defi) sites and mobile applications.
The request, which was sent in collaboration with the Defi Education Fund on Wednesday, follows an increase in defi -support from the White House and SEC chairman Paul Atkins, who calls on this corner of the crypto sector to move on without lit legislative headwinds. President Donald Trump’s administration produced a recent crypto report that included recommendations to “provide relief to certain defiable service providers” from rules for brokerage registration.
“The indicative principle of the safe port is that only the apps that do not create the risks that the Exchange Act’s brokerage regulation was designed to tackle must be justified; in such cases, registration as a broker under Exchange Act is unjustified and inappropriate,” according to the proposal.
In March, A16Z sent a long-term letter to SEC’s Crypto Task Force, outlining the company’s preferences for safe ports for network roof and airdrops, and another proposal requested an exempt space for non-swinging tokens (Nfts). Andreessen Horowitz Crypto Arm has also invested in defi companies, including Uniswap and Maker.
Trump’s SEC chief, Atkins, has promised to start taking crypto-friendly actions, even in the absence of the long-awaited congress law to fully establish rules for digital assets in the US efforts still in the Senate, after a recent house voice to approve such a bill. Atkins said his agency starts “Project Crypto” to get his initiatives started.
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