Venture capital firm Andreessen Horowitz met with regulators in Washington to convince them of the potential of cryptocurrency technologies.
The meeting was attended by representatives from the US Department of the Treasury, the Securities and Exchange Commission (SEC), and the derivatives trading commission (CFTC). Also, the event was attended by representatives of cryptocurrency companies in which the venture company invested.
Note that although representatives of cryptocurrency companies and regulators often meet at private and public conferences, the fact that the meeting was attended by representatives of high-level government institutions makes this meeting unusual.
Representatives of Andreessen Horowitz tried to convince Washington officials to weaken the regulation of cryptocurrencies. However, the regulators are still very careful. The deputy finance minister told startups that compliance with cryptocurrency companies’ AML rules still needs to be improved, while former CFTC chairman Christopher Giancarlo emphasized the importance of cryptocurrency market regulation for a venture capital company.
It was previously reported that venture investments in blockchain and cryptocurrencies grew by 280% – investments almost tripled in the first three quarters of 2018.