Venture capital giant a16z will open its first office outside the U.S., and chose London as the destination. By JamieCrawleyCD
, however, from the House of Commons Treasury Select Committee, which says crypto should be treated like gambling. That proposal has met with backlash by those in the industry.
"While there is still work to be done, we believe that the U.K. is on the right path to becoming a leader in crypto regulation," a16z said."It is home to more 'unicorns' than Germany, France, and Sweden combined; to some of the world’s largest financial markets and pools of capital; and to highly-sophisticated, world-class regulators."
U.K. Prime Minister Rishi Sunak welcomed the decision, saying:"We must embrace new innovations like Web3, powered by blockchain technology, which will enable start-ups to flourish here and grow the economy."A16z said it remains heavily invested in the U.S., where it will continue to push for regulatory clarity for crypto startups.
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