A “predictable business environment” is one of the main factors behind a16z crypto decision to expand to the UK
Venture capital firm Andreessen Horowitz (a16z) is about to open its first office outside of the United States and host the next Crypto Startup School in London in 2024, after “months of constructive conversations” with UK policymakers.
The move comes amid an increasing number of regulatory actions against crypto firms in the United States registered in recent months. The debate on what digital assets should be considered securities in the US is still going on, with a lack of legal clarity leading to more crypto companies seeking offshore expansion.
On the contrary, the UK has attracted a16z with a “predictable business environment” and understandable industry rules. In a blog post, Chris Dixon, a16z’s crypto founder and managing partner, noted that “blockchains and the software movement around them — usually called crypto or web3 — can only succeed with a clear regulatory regime that provides an open pathway for startups while also protecting consumers from fraud and manipulation.”
After months of communication with policymakers and regulators across the globe, the firm chose the UK as its next destination due to the local government’s positive attitude to Web3 and the willingness of UK authorities to cooperate with the industry players in the creation of policies that incentivize startups to pursue decentralization.
The company also plans to host its next Crypto Startup School project in London. The event to take place in spring 2024 will host 26 teams from a range of countries, including the UK, US, India, Germany, France, Argentina, Ecuador, and Canada, developing their web3 projects.
The UK Prime Minister, Rishi Sunak, welcomed the newcomer, stating that he was determined to unlock opportunities for blockchain technology and turn the UK into the world’s Web3 centre. Therefore, Mr Sunak was thrilled that the world-leading investor, Andreessen Horowitz, decided to open their first international office in the UK as a result of the country’s “strong competitive business environment.”
Nevertheless, a16z remains “heavily invested” in the US as well, aiming to continue its cooperation with policymakers and regulators and push for more regulatory clarity for American crypto startups.
