Venture capital firm Andreessen Horowitz, often known as a16z, which invests in seed to venture to late-stage technology companies in several areas including crypto, said it will open an office in London later this year, the first office outside of the United States.
The move comes as U.S. regulators increase oversight over the crypto industry, often through lawsuits, which has driven several digital asset companies to expand their international presence.
“While there is still work to be done, we believe that the UK is on the right path to becoming a leader in crypto regulation,” Chris Dixon, founder at a16z crypto, wrote in a blog post on Sunday.
“We will remain heavily invested in the U.S. We continue to be committed to working with U.S. policymakers and regulators to push for more regulatory clarity for crypto startups here,” Dixon noted.
Last week, the Securities and Exchange Commission sued both crypto exchanges Coinbase and Binance. Gary Gensler, chairman of the SEC, has repeatedly said most cryptocurrencies are securities and should fall into the jurisdiction of the agency.
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