Andreessen Horowitz co-founders Marc Andreessen and Chris Dixon said in a recent interview that the US should pass the CLARITY Act to create a steadier regulatory framework for crypto. Both said prolonged uncertainty could push innovation out of the country.
Andreessen says the US needs stable crypto rules
Andreessen looked back at his 2014 essay, "Why Bitcoin Matters," and said crypto has moved beyond its early technical phase into a more mature industry. He said the US now needs a stable regulatory framework that can support responsible business activity while helping prevent collapses like FTX.
He also said expanding liability for developers whose open-source software is misused would choke off innovation. Andreessen compared the issue to the period after restrictions on HTTPS were lifted, when the US went on to lead the development of e-commerce.
Dixon says crypto is becoming financial infrastructure
Dixon said crypto has shifted from a subculture into financial infrastructure. He pointed to stablecoins as a way to enable near-free, instant global transfers, and said their transaction volume can rival Visa.
He added that the GENIUS Act has given stablecoins more regulatory clarity and materially improved adoption. At the same time, he said the broader crypto market still does not have a federal regulatory framework.
CLARITY Act framed as the next step
According to the two executives, the CLARITY Act would clarify the division of responsibilities between the US Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC. It would also distinguish between rules for centralized tokens and decentralized tokens, while giving builders longer-term certainty.
They also said broader developer liability would hurt open-source development, research, and startup formation. If regulatory uncertainty remains in place, innovation could move elsewhere, they said.