Andreessen Horowitz to open its first international office in London

Andreessen Horowitz to open its first international office in London

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June 11 (Reuters) – US venture capital firm Andreessen Horowitz, a major cryptocurrency investor, said on Sunday it will set up its first international office in London, at a time when US regulators have increased scrutiny of the cryptocurrency sector. cryptocurrencies.

The London office, which is set to open later this year, will work with universities in the United Kingdom and support the development of blockchain technologies and startups, the company said in a statement, adding that it will be led by one of the general partners of the firm, Sriram. Krishnan.

Andreessen’s move comes at a time when the US Securities and Exchange Commission (SEC) has been cracking down on the cryptocurrency industry, suing cryptocurrency exchanges Coinbase. (COIN.O) and Binance last week for allegedly breaking their rules.

“We are delighted to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by enforcing regulations that embrace Web3 and protect consumers,” said Chris Dixon, founder and CEO of a16z from Andreessen. crypto fund, which is setting up the office.

The decision follows months of talks with British Prime Minister Rishi Sunak and other officials, Dixon said.

Sunak said in the statement that he is “determined to unlock opportunities” for blockchain technology and “make the UK the Web3 hub of the world.” Web3 is a much-hyped vision of a blockchain-based future internet.

Reporting by Rishabh Jaiswal and Jahnavi Nidumolu in Bengaluru; Edited by Muralikumar Anantharaman

Our standards: The Thomson Reuters Trust Principles.

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