TechFlow, on August 1, according to Cointelegraph, venture capital firm Andreessen Horowitz (a16z) sent an open letter to the U.S. Senate Banking Committee, proposing amendments to the latest draft of the cryptocurrency regulatory bill. The company pointed out that the definition of "affiliate assets" in the bill contains loopholes that could harm investor rights.
a16z recommended adopting a "digital commodity" regulatory framework, retaining the existing Howey test standard, and suggested implementing decentralized control mechanisms to prevent insider trading. Meanwhile, the company argued that foundational technological operations of blockchain systems—such as consensus algorithms, mining, staking, and smart contract execution—should not be classified as regulated financial activities.
