The post Strike While the Crypto Iron is Hot Under Trump, Says Andreessen Horowitz appeared on BitcoinEthereumNews.com.

Andreessen Horowitz’s (a16z) crypto arm sees former President Donald Trump’s re-election as a catalyst for a new era in crypto regulation, urging projects to embrace decentralized solutions and build confidently in the U.S.  The venture capital firm, which has invested heavily in crypto and web3 startups, sees Trump’s pro-crypto stance as a way forward, according to a blog post on Monday. The firm’s crypto legal and policy experts—Miles Jennings, Michele Korver, and Brian Quintenz—outlined how the new political climate could pave the way for regulatory clarity. With the election now decided, “we believe this is an incredible opportunity to build on the bipartisan progress from the last Congress,” they wrote. The experts’ core message to crypto founders is to leverage the new administration’s openness towards digital assets. “Where there is trust, there is regulation,” the experts reminded builders, urging them to eliminate centralized dependencies to stay compliant. The trio notes now is the time for projects that have held back on using tokens due to regulatory concerns. With Trump’s pro-crypto approach, founders should feel confident in using tokens as “legitimate and lawful tools,” according to experts. “Today’s all-time high, driven by a Trump election win, signals that we are in the midst of a potential paradigm shift into the next phase of growth for crypto,” OKX chief legal officer Mauricio Beugelmans told Decrypt. Much of the optimism stems from Trump’s campaign promises to ease restrictions on crypto and replace Securities and Exchange Commission Chair Gary Gensler, whose strict enforcement approach has been a thorn in crypto’s side. “We hope forward-looking regulation that protects the industry and users and cultivates crypto innovation in America will become a bipartisan topic in the future,” Beugelmans added. Trump’s re-election has sparked enthusiasm in the markets, with Bitcoin reaching new all-time highs well above $80,000.…

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Filed under: News - @ November 11, 2024 9:22 pm