Andreessen Horowitz Shutters UK Office with focus on stable transfer to us amid new Trump administration encryption policies
The crypto arm of venture capital giant Andreessen Horowitz (A16Z) is filling its UK office as it shifts focus to the US.
Anthony Albanese, Chief Operating Officer at A16Z Crypto, He says The company chose to direct its energy toward the United States “given the strong political momentum of the new administration.”
“This does not change our confidence in the UK’s growing role in crypto and blockchain. We will continue to invest in great entrepreneurs no matter where they are in the world, including the UK. We also remain ready to assist the UK through its continued efforts.”
Earlier this week, President Donald Trump signed an executive order evaluating the creation of a strategic national Bitcoin (BTC) and Crypto Stockpile.
The order, titled “Strengthening U.S. Leadership in Digital Financial Technology,” requires all federal agencies to halt any actions related to developing a government-backed, dollar-backed digital version. It also calls for an analysis of ways the United States can “enhance the development and growth of legal and legal codes” created in the private sector.
The administration’s new leadership at the US Securities and Exchange Commission (SEC) also rescinded Staff Accounting Bulletin 121, a controversial rule that forced banks to designate crypto assets held on behalf of their clients as liabilities on their balance sheets.
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