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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/06\/12\/london-lures-a16zs-first-international-office-with-predictable-crypto-regs\/<\/a><\/br> US VC giant Andreessen Horowitz \u2014 which has about $35bn in assets under management \u2014 is to open its first (yes, the first) international office in London, led by one of the firm\u2019s general partners, Sriram Krishnan. The office will focus on supporting the development of crypto, blockchain technologies and associated Web3 startups. a16z has committed $7.6bn to crypto startups globally.<\/p>\n Chris Dixon, who leads a16z\u2019s crypto investments, said: \u201cLondon is a major financial hub, it\u2019s a major tech hub and frankly it\u2019s a very attractive place for people to live. You just need to get it to a critical mass to really get it going and we\u2019re hoping that we can become a part of that and nudge [London] into being a more active hub of technology.\u201d<\/p>\n His comments may come as a slight surprise to the numerous VCs and unicorns that have exploded from the city in the last 15 or so years. That said, he said the decision came after a \u201cproductive dialogue\u201d with the U.K. prime minister, HM Treasury, U.K. policymakers, and the Financial Conduct Authority.<\/p>\n The move comes at a time when the SEC has been cracking down on the crypto industry, suing cryptocurrency exchanges Coinbase and Binance for allegedly breaching its rules. London\u2019s long history in the finance world, large FinTech centre and softer regulatory approach to crypto has almost certainly played into a16z\u2019s thinking on this strategic move.<\/p>\n Dixon said the UK\u2019s \u201cthoughtful approach\u201d to crypto contrasted with the legal uncertainty in the US, although the firm re-affirmed its commitments to US crypto companies. \u201cOur assessment is the UK is ahead of the curve and instituting [crypto] policies that will eventually becoming a global standard,\u201d he added.<\/p>\n The UK government has already made noises about create a more hospitable climate for Web3 compared to the US, keen as it is to re-establish London as a fintech centre after the loss of so much EU-based finance business.<\/p>\n
\nLondon lures a16z\u2019s first international office with \u2018predictable\u2019 crypto regs<\/br>
\n2023-06-12 21:47:25<\/br><\/p>\n