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Andreessen Horowitz Publishes Key Principles for the Future of Web3

Andreessen Horowitz Publishes Key Principles for the Future of Web3

Venture capital firm Andreessen Horowitz, also known as a16z has proposed its own regulatory recommendations for the cryptocurrency industry. In a document titled ‘How to Build a Better Internet: 10 Principles for World Leaders Shaping the Future of Web3,’ a16z laid out some of the guiding principles after various discussions with stakeholders from innovation and policy. The recommendations were designed to create a legal and regulatory architecture to sustain the broader adoption of web3 platforms. In its first principle, the venture capital form emphasized a clearer vision to foster decentralized digital infrastructure via a multi-stakeholder approach which includes governments, businesses, and civil society groups. This ensures a targeted, risk-calibrated oversight regime for different web3 activities. “We’ve heard from officials on every populated continent who are looking to build responsible web3 policy frameworks to benefit the communities they serve. They face the challenge of delivering on the extraordinary promise of web3 while mitigating the real risks that accompany the deployment of a new technology,” the document read. Andreesen also recommends the role of well-regulated stablecoins in financial inclusion and innovation. Additional suggestions include collaborating with other nations on regulatory frameworks that provide tax codes that are more transparent and recognize the diversity of web3 technologies. In October 2021, the US-based cryptocurrency exchange Coinbase also released its own policy guidelines calling for a ‘single federal regulator’ to oversee token and market registrations for consumer protection. Later, rival exchange FTX too released its own policy guidelines primarily focused on the US. regulations. Similarly, Binance also offered its own suggestions that marketplaces that offer derivative instruments should be subjected to appropriate regulations. While all the exchanges’ recommendations on crypto policy focused on the American market, a16z’s recent document is aimed at the world leaders instead of the US.

The post Andreessen Horowitz Publishes Key Principles for the Future of Web3 appeared first on Cryptoknowmics-Crypto News and Media Platform.

Andreessen Horowitz Publishes Key Principles for the Future of Web3

Venture capital firm Andreessen Horowitz, also known as a16z has proposed its own regulatory recommendations for the cryptocurrency industry. In a document titled ‘How to Build a Better Internet: 10 Principles for World Leaders Shaping the Future of Web3,’ a16z laid out some of the guiding principles after various discussions with stakeholders from innovation and policy. The recommendations were designed to create a legal and regulatory architecture to sustain the broader adoption of web3 platforms. In its first principle, the venture capital form emphasized a clearer vision to foster decentralized digital infrastructure via a multi-stakeholder approach which includes governments, businesses, and civil society groups. This ensures a targeted, risk-calibrated oversight regime for different web3 activities. “We’ve heard from officials on every populated continent who are looking to build responsible web3 policy frameworks to benefit the communities they serve. They face the challenge of delivering on the extraordinary promise of web3 while mitigating the real risks that accompany the deployment of a new technology,” the document read. Andreesen also recommends the role of well-regulated stablecoins in financial inclusion and innovation. Additional suggestions include collaborating with other nations on regulatory frameworks that provide tax codes that are more transparent and recognize the diversity of web3 technologies. In October 2021, the US-based cryptocurrency exchange Coinbase also released its own policy guidelines calling for a ‘single federal regulator’ to oversee token and market registrations for consumer protection. Later, rival exchange FTX too released its own policy guidelines primarily focused on the US. regulations. Similarly, Binance also offered its own suggestions that marketplaces that offer derivative instruments should be subjected to appropriate regulations. While all the exchanges’ recommendations on crypto policy focused on the American market, a16z’s recent document is aimed at the world leaders instead of the US.

The post Andreessen Horowitz Publishes Key Principles for the Future of Web3 appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Source: https://www.cryptoknowmics.com/news/andreessen-horowitz-publishes-key-principles-for-the-future-of-web3/

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