PANews reported on December 16 that, according to the CFTC, a16z submitted comments to the CFTC regarding the Presidential Working Group (PWG) report on digitalPANews reported on December 16 that, according to the CFTC, a16z submitted comments to the CFTC regarding the Presidential Working Group (PWG) report on digital
The CFTC is seeking feedback on its recommendations for DeFi regulation; a16z proposes three action plans.
PANews reported on December 16 that, according to the CFTC, a16z submitted comments to the CFTC regarding the Presidential Working Group (PWG) report on digital assets, arguing for: 1. Clarifying through non-action letters/interpretive guidance that "Protocols (blockchain and smart contracts)" meeting certain conditions do not require registration; 2. Providing non-action letters/guidance for "Apps (front-end interfaces)" that meet limited functionalities and user qualifications, confirming that they do not trigger registration obligations under FCM, IB, DCM, SEF, etc., and clarifying compliance practices for ECP and domestic/foreign user authentication; 3. Developing rules or exemptions to provide innovative exemptions or customized registration paths for Apps that do not meet the second condition. a16z also pointed out that previous enforcement conflated Protocols with App functions, causing uncertainty and inhibiting innovation in the United States.
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