Andreessen Horowitz Shutters UK Office As Firm Shifts Focus to US Amid New Trump Administration Crypto Policies

The crypto arm of enterprise capital big Andreessen Horowitz (A16Z) is closing its UK workplace because it shifts focus to the US.

Anthony Albanese, A16Z Crypto’s Chief Working Officer, out The corporate has chosen to focus its energies on the US “given the robust coverage momentum of the brand new administration.”

“This doesn’t change our confidence within the UK’s rising function in crypto and blockchain. We’ll proceed to spend money on nice entrepreneurs wherever they’re on the earth, together with the UK. We additionally stay prepared to assist the UK with its ongoing crypto efforts. ”

Earlier this week, President Donald Trump signed an govt order to judge the creation of a strategic nationwide Bitcoin (BTC) and Crypto Stockpile.

The order, titled “Strengthening U.S. Management in Digital Monetary Know-how,” requires all federal companies to halt all actions associated to the event of a government-backed digital model of the greenback. It additionally requires an evaluation of how wherein the US can promote the event and progress of official and legit “dollar-pegged stableCoins created within the personal sector.”

The administration’s new management on the US Securities and Change Fee (SEC) has additionally rescinded Workers Bulletin 121, a controversial rule that compelled banks to establish crypto belongings held on behalf of their clients as liabilities on their steadiness sheets.

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