Andreessen Horowitz Opening Crypto Office in London – Decrypt
Lower than per week after U.S. regulators made probably the most aggressive strikes but taken in opposition to the digital property business, the crypto funding arm of enterprise capital agency Andreessen Horowitz, a16z crypto, introduced it’s opening its first abroad workplace in London. The corporate mentioned that crypto “can only succeed with a clear regulatory regime that provides an open pathway for startups while also protecting consumers from fraud and manipulation”—and that such regime exists in the UK.
Though the U.S. and its ongoing “war on crypto” weren’t expressly talked about, the transfer comes precisely one month after a16z crypto issued a “State of Crypto” report on the decline of crypto-related exercise within the U.S., through which the corporate mentioned that “banning new business models or technologies undermines American values and drives innovation and jobs elsewhere.”
In its announcement, a16z acknowledged the issues created by the “casino culture” that developed within the crypto area, saying it has “been working with policymakers and regulators across the globe.”
“We need regulatory frameworks that facilitate decentralization, not impede it,” a16z went on to say. “UK policymakers and regulators are taking an approach that is uniquely tailored to blockchain and digital asset regulation.”
Its U.Ok. growth will carry the corporate’s first workplace outdoors of the U.S., to be positioned in London and led by Sriram Krishnan, a normal associate of the funding arm, who will lead a workforce “to grow the crypto and startup ecosystem in the UK and Europe.”
As a part of the announcement, a16z cited latest investments it made in U.Ok.-based crypto corporations, together with Gensyn, Arweave, Aztec, and Unbelievable. The corporate additionally introduced plans to run its subsequent Crypto Startup School in London subsequent spring, and to work with blockchain golf equipment at “incredible universities that call the U.K. home.”
“I am thrilled world-leading investor Andreessen Horowitz has decided to open their first international office in the UK, which is testament to our world-class universities and talent and our strong competitive business environment,” mentioned U.Ok. Prime Minister Rishi Sunak in a ready assertion. “While there’s still work to do, I’m determined to unlock opportunities for this technology and turn the U.K. into the world’s Web3 center.”
Finally, a16z says, “we are in the early innings of crypto,” noting that the present buzz over synthetic intelligence comes after 80 years of growth. Key to progress, the corporate mentioned, is decentralization.
“The benefits of web3 will only be achieved if the underlying infrastructure is decentralized, but it takes time and a runway for projects to grow from a centralized startup to a truly decentralized network,” the agency famous.
Whereas the a16z crypto announcement lavished reward on the UK, it additionally supplied some assurance to its house nation.
“We will remain heavily invested in the U.S.,” the corporate mentioned. “We continue to be committed to working with U.S. policymakers and regulators to push for more regulatory clarity for crypto startups here.”
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