VC Firm Andreessen Horowitz Lured By UK’s Crypto Regulatory Environment To Open London Office

VC Firm Andreessen Horowitz Lured By UK’s Crypto Regulatory Environment To Open London Office
фото показано с : zycrypto.com

2023-6-13 22:15

In a June 11, 2023 post, the private American venture capital firm Andreessen Horowitz (also known as a16z) announced that it is expanding to the UK and would open a crypto office in London later this year. The office will oversee the growth of the crypto ecosystem in the UK and Europe.

“That’s why I am thrilled world-leading investor Andreessen Horowitz has decided to open their first international office in the UK – which is a testament to our world-class universities and talent and our strong competitive business environment”, said UK Prime Minister Rishi Sunak.

Andreessen Horowitz said the UK has highly sophisticated, world-class regulators, making it well-positioned to lead in web3. Andreessen Horowitz said it had also invested in several UK-based crypto companies like Arweave, Aztec, and Improbable.

According to Andreessen Horowitz, UK policymakers and regulators are taking an inclusive approach to blockchain and digital asset regulation that includes working constructively with the industry to identify the unique attributes of blockchain technology.

The UK policymakers and regulators’ approach also includes laying the foundation for future applications of blockchain technology and ensuring adequate consumer protection in any crypto regulation.

Andreessen Horowitz said that the UK is on the right path to becoming a leader in crypto regulation due to its deep pools of talent, world-leading academic institutions, and strong entrepreneurial culture.

Some U.S.-based companies are expanding overseas amidst requests from crypto companies for more regulatory clarity. There is also concern amongst crypto enthusiasts that the U.S. could lose the crypto leadership role to Europe, where parliament has already passed the Market in Crypto-Assets (MiCA) regulation.

In May 2023, Coinbase opened the Coinbase International Exchange in Bermuda. The expansion will enable institutional users based in eligible jurisdictions outside the U.S. to trade perpetual futures.

In a May 2023 blog, Team Gemini announced that it had set up its European Headquarters in Dublin, Ireland. Gemini also announced that it would begin applying for a crypto license to serve customers based in the United Arab Emirates (UAE) to make Gemini a global company.

Again in May 2023, Ripple announced a $250 million acquisition of Metaco, a Swiss-based provider of digital asset custody and tokenization technology, increasing its presence overseas.

There is also concern amongst crypto enthusiasts that the U.S. could lose the crypto leadership role to Europe, where parliament has already passed the Market in Crypto-Assets (MiCA) regulation. Andreessen Horowitz emphasized that it remains committed to working with U.S. policymakers and regulators for more crypto regulatory clarity.

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