Venture capital giant Andreesen Horowitz named Collin McCune, most recently the Republican deputy staff director of the House Financial Services Committee, to be its new head of government affairs.

“The future of web3 and crypto is one of the few bipartisan issues and we are thrilled that policymakers are taking a hard look at how crypto, web3, and blockchain technology should be regulated,” wrote a16z Managing Partner and Chief Operating Officer Anthony Albanese in a post announcing the hire. Noting that the prominent VC firm has hired “a variety of experienced former regulators,” Albanese continued that, “While we have built up an incredible bench, we felt it was essential to add a deep understanding of the U.S. legislative process to complement our team.” 

McCune worked on Capitol Hill for 10 years, with stops at the House Transportation and Infrastructure and Rules Committees before joining the staff of House Financial Services Committee Ranking Member Patrick McHenry, R-N.C., as member services and coalitions director in 2019. He was named deputy staff director for Republican staff of the committee a year ago.

a16z, as the firm brands itself, has played an active role in lobbying around digital asset policy in Washington, though the hiring suggests its engagement could further ramp up. McCune’s former boss looks likely to become committee chair next year, as Republicans are favored to win a majority in the House of Representatives in midterm elections, and McHenry has played a major role in negotiating a comprehensive, bipartisan framework for stablecoins. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.