Andreessen Horowitz (a16z) General Partner chris dixon praised the UK’s regulatory approach to crypto and announced expansion plans in the country, including opening a London office, its first international station outside the US.
UK’s Crypto Ambitions “On Track.”
dixon Acknowledged the difficulties faced by global regulators in balancing investor protection Harmful “Casino” Culture“Typical of the crypto industry – a problem stemming from the novelty of digital asset technology.
Nonetheless, by local regulators working with the industry, “laying a foundation” for blockchain-based applications, using a regulatory sandbox, and “opting foroutcome based regulation, dixon believes that Web3 startups will flourish in the UK.
tech vc firm accepted There are still regulatory hurdles to resolve. But he believes the country is “on the right track” to establish itself as a Web3 leader, citing his decision to set up a London office to “grow the crypto and startup ecosystem in the UK and Europe”. inspired.
On A16z’s UK expansion plans, UK Prime Minister Rishi Sunak commented:
“Success is founded on having the right regulation and guardrails in place to protect consumers and foster innovation. While there is still work to be done, I look forward to unlocking the opportunities of this technology and turning the UK into the Web3 hub of the world.” I am determined to.”