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a16z
2026-08-03 09:03:04

a16z Founders Back CLARITY Act, Say Regulatory Vacuum Is Crypto’s Biggest Risk

Andreessen Horowitz founders Marc Andreessen and Chris Dixon used a recent a16z crypto interview to make a broad case for the CLARITY Act, the U.S. market structure bill now moving through the Senate. Their argument was blunt: the deeper risk for crypto is not regulation itself, but the absence of clear, durable federal rules. In the discussion with host Robert Hackett, the two contrasted the current push around CLARITY with the progress already made on stablecoins under the GENIUS Act, which they said gave issuers, consumers, banks, and fintech companies a usable compliance framework. By comparison, they argued, the blockchain networks and digital asset markets that support stablecoins still sit in a fragmented federal structure, with only partial guidance from agencies such as the Securities and Exchange Commission and the Commodity Futures Trading Commission. The interview also touched on several flashpoints around the bill: illicit finance, sanctions evasion, privacy, ethics rules for public officials, whether stablecoin balances should pay interest, legal liability for open-source developers, and how tokenized assets would be treated under securities law. Andreessen and Dixon said the bill would not carve out exemptions for tokenized stocks, would impose disclosure and lock-up rules on early-stage token projects, and would create a more formal path for exchanges and intermediaries operating in the U.S. market.

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a16z Founders Back CLARITY Act, Say Regulatory Vacuum Is Crypto’s Biggest Risk