Recently, Andreessen Horowitz, a venture capital investors hosted a private event in Washington where they invited officials from all the government bodies like Treasury Department, Securities and Exchange Commission(SEC), Commodity Futures Trading Commission(CFTC) and many cryptocurrency companies that were a part of the firm’s portfolio.
These companies and regulators usually meet in private and public conferences, but the presence of so many leading government agencies that have control over cryptocurrencies still made the firm’s event “unusual.”
With this event, the firm tried to convince the officials to go easy on the cryptocurrencies and the exchanges that deal in them and bring some changes in the regulations. The officials, on the other hand, are still very cautious about the working of these currencies and exchanges.
The undersecretary of the Treasury Department told the companies that their AML compliance needs improvement and CFTC chairman J. Christopher Giancarlo explained the importance of regulations in the crypto market.
Andreessen Horowitz is a private American venture capital firm which was founded in 2009 by Marc Andreessen and Ben Horowitz. The firm has been a part of the blockchain industry as an investor for the startups, and they have invested in MakerDAO, and blockchain cloud computing firm, Oasis Labs.