a16z submits a response to the U.S. Securities and Exchange Commission's Crypto Working Group on crypto asset custody

a16z has submitted a response to the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Working Group regarding cryptocurrency asset custody matters. In their letter to SEC Commissioner Hester M. Peirce, a16z emphasized the importance of establishing clear and practical regulatory frameworks for Registered Investment Advisors (RIAs) to manage cryptocurrency assets. They advocated for the SEC to provide new guidance to facilitate arrangements for cryptocurrency asset custody, suggesting that such guidance should focus on these assets' unique characteristics while promoting innovation and ensuring investor protection.

Furthermore, a16z outlined broad principles they believe should be followed in regulating crypto custodianship, aiming at balancing security needs with flexibility required by technological advancements.