CoinVoice has recently learned that a16z Crypto's regulatory head, Michele Korver, posted on the X platform stating: “We at a16z Crypto believe that DeFi will make financial services and the digital economy more convenient, efficient, interoperable, reliable, and consumer-centric.
However, yesterday the U.S. Treasury Department released new broker reporting rules, posing a direct threat to this commitment and undermining the future of DeFi innovation in the U.S. We at a16z Crypto support the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council in filing a lawsuit, as the IRS and Treasury have overstepped their statutory authority, violated the Administrative Procedure Act (APA), and acted unconstitutionally.
DeFi builders should be confident that industry lawyers are working hard to protect this technology. We will continue to fight on all fronts— in the courts, in Congress, and with the help of the new administration.” [Original link]