a16z highlights importance of decentralized digital ID for crypto in US gov’t feedback
The American government should reform its regulations for financial institutions to allow them to use merging technologies, particularly those related to decentralized digital identity solutions, to comply with the “GENIUS” Act, according to Andreessen Horowitz (a16z).
The venture capital firm responded to a request for comment issued by the treasury department in August, seeking feedback on “Innovative Methods to Detect Illicit Activity Involving Digital Assets,” and an advance notice of proposed rulemaking in September on implementing the Act. The first letter was directed to Julie Lascar, director of the Office of Strategic Policy, Terrorist Financing and Financial Crimes, and the other to Treasury Secretary Scott…
