VC firm a16z has published a statement urging the U.S. Department of Justice (DOJ) to stop holding DeFi protocols accountable for illicit activities they neither incited nor can control.
a16z pointed out that holding individuals responsible for systems and activities over which they have no power or control would lead to negative consequences. The firm recommends that one of the incoming U.S. presidential administration’s top cryptocurrency policy priorities should be establishing a clear legal definition of "control" in legislation, which is especially critical in determining whether cryptocurrency companies qualify as "money transmitting businesses."
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