a16z puts forward four main areas where the U.S. government can regulate cryptocurrency and blockchain technology.
a16z on Tuesday outlined what it believes are key issues in the decentralized finance (DeFi) field-including consumer protection, decentralized autonomous organizations (DAO), assessment of regulatory fragmentation and overlap, as well as tax reporting and certain blockchain ecosystems The clarity of the system.
a16z said: “Each of our four proposals are designed to exist independently, but when combined, they represent the beginning of an integrated approach to regulation, supervision and taxation in a decentralized environment.”
Specifically, a16z’s consumer protection proposal was submitted in response to a call from US Senator Pat Toomey (R-Pa.) of the Senate Banking Committee. The proposal recommends the establishment of a simple disclosure regulatory system in accordance with the Consumer Financial Protection Act.
At the same time, the DAO will obtain legal rights similar to standard registered entities, including tax requirements, permission to open bank accounts and sign legal agreements.