Andreessen Horowitz’s blockchain arm, A16z Crypto, has criticized the US Internal Revenue Service (IRS) and the Treasury Department over their new DeFi rules.
In a Dec. 30 post on X, Michele Korver, the head of regulation at A16z, announced its support for the legal challenge led by the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council.
These groups argue that the government’s new broker rules for digital asset service providers threaten the future of the US digital asset industry.
The DeFi Fund stated:
“In order to protect DeFi and the digital asset industry more broadly, we sued Treasury and IRS [to] challenge their doomed rulemaking, which would essentially serve as a DeFi ban.”
A16z defends DeFi
Korver explained that A16z Crypto’s support for the lawsuit is rooted in the belief that DeFi can create a more inclusive, efficient, and consumer-centric financial system. The firm views this legal challenge as critical to safeguarding DeFi’s future in t
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