Andreessen Horowitz Opening Crypto Office in London

Lower than per week after U.S. regulators made probably the most aggressive strikes but taken towards the digital belongings business, the crypto funding arm of enterprise capital agency Andreessen Horowitz, a16z crypto, introduced it’s opening its first abroad workplace in London. The corporate mentioned that crypto “can solely succeed with a transparent regulatory regime that gives an open pathway for startups whereas additionally defending shoppers from fraud and manipulation”—and that such regime exists in the UK.

Though the U.S. and its ongoing “battle on crypto” weren’t expressly talked about, the transfer comes precisely one month after a16z crypto issued a “State of Crypto” report on the decline of crypto-related exercise within the U.S., wherein the corporate mentioned that “banning new enterprise fashions or applied sciences undermines American values and drives innovation and jobs elsewhere.”

In its announcement, a16z acknowledged the issues created by the “on line casino tradition” that developed within the crypto house, saying it has “been working with policymakers and regulators throughout the globe.”

“We’d like regulatory frameworks that facilitate decentralization, not impede it,” a16z went on to say. “UK policymakers and regulators are taking an strategy that’s uniquely tailor-made to blockchain and digital asset regulation.”

Its U.Okay. enlargement will carry the corporate’s first workplace exterior of the U.S., to be situated in London and led by Sriram Krishnan, a common associate of the funding arm, who will lead a staff “to develop the crypto and startup ecosystem within the UK and Europe.”

As a part of the announcement, a16z cited current investments it made in U.Okay.-based crypto firms, together with Gensyn, Arweave, Aztec, and Inconceivable. The corporate additionally introduced plans to run its subsequent Crypto Startup College in London subsequent spring, and to work with blockchain golf equipment at “unimaginable universities that decision the U.Okay. dwelling.”

“I’m thrilled world-leading investor Andreessen Horowitz has determined to open their first worldwide workplace within the UK, which is testomony to our world-class universities and expertise and our robust aggressive enterprise setting,” mentioned U.Okay. Prime Minister Rishi Sunak in a ready assertion. “Whereas there’s nonetheless work to do, I’m decided to unlock alternatives for this know-how and switch the U.Okay. into the world’s Web3 middle.”

Finally, a16z says, “we’re within the early innings of crypto,” noting that the present buzz over synthetic intelligence comes after 80 years of growth. Key to progress, the corporate mentioned, is decentralization.

“The advantages of web3 will solely be achieved if the underlying infrastructure is decentralized, nevertheless it takes time and a runway for initiatives to develop from a centralized startup to a really decentralized community,” the agency famous.

Whereas the a16z crypto announcement lavished reward on the UK, it additionally supplied some assurance to its dwelling nation.

“We are going to stay closely invested within the U.S.,” the corporate mentioned. “We proceed to be dedicated to working with U.S. policymakers and regulators to push for extra regulatory readability for crypto startups right here.”