Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Andreessen Horowitz launches the a16z crypto fund to invest $US 300 million in crypto startups. The Maltese Parliament moves forward with digital currency legislation.
Andreessen Horowitz has announced the a16z crypto fund for taking long-term positions in blockchain companies and tokens. The company will be allocating capital to non-speculative use cases and supporting those companies or networks with their operational expertise.
Malta continues to move forward with accommodative policy, setting the stage for three digital asset bills to pass their second reading. The Virtual Financial Assets Act will regulate initial coin offerings, the Malta Digital Innovation Authority Act will set up a governing body while the Innovative Technology Arrangements and Services Act will regulate the designation of innovative technology arrangements.
The company will open an office in the Mena region, expanding its global reach and ability to service customers. Nicola Mariani will manage the office in Dubai and serve as the companys Chief Legal Officer.
The bank surveyed 15,000 clients across Europe, the USA, and Australia on their understanding and exposure to digital currencies. They conclude that younger age brackets (25-34) are not more likely to have heard of digital currencies than older age brackets. Exposure to digital assets in Europe is small, with one in ten participants owning any digital assets.
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