When the sword of Damocles looms over DeFi under US regulation, the world's largest crypto venture capital firm a16z is launching a desperate counterattack that concerns the life and death of the industry. The outcome of this game will determine the fate of millions of crypto users' assets.

Recently exposed documents show that a16z crypto has submitted an urgent letter to the US Treasury Department, issuing a strong warning about the just-passed (GENIUS Act). This top venture capital firm managing hundreds of billions of dollars in assets stated that if decentralized stablecoins are brought under regulation, it will stifle the innovative lifeblood of the entire crypto industry.

In this war without gunpowder, a16z has delivered three heavy punches:

First Punch: Seek exemptions for decentralized stablecoins
Taking LUSD as an example, a16z vividly explains to regulators:
True decentralized stablecoins operate autonomously via smart contracts
There is no central controlling entity
Should not be classified as traditional financial institutions

Second Punch: Propose a Revolutionary Regulatory Framework
Draw on the Essence of the Digital Asset Market Transparency Act
Create a safe zone for node operators and wallet developers
Find the golden balance between regulation and innovation

Third Punch: Propose Digital Identity Solutions
Former DOJ Cryptocurrency Prosecutor Michele Korver personally took charge
Build a decentralized identity system using zero-knowledge proof technology
Meet anti-money laundering requirements while protecting user privacy

Behind this game of chess is a hundred billion dollar market standing at a crossroads. Data shows:
The total market value of global stablecoins has exceeded 130 billion dollars
The annual growth rate of decentralized stablecoins exceeds 240%
American users account for nearly one-third

More notably, there are hidden insights in a16z's suggestions:
Decentralized identity systems can significantly reduce compliance costs
Zero-knowledge proofs can achieve a perfect balance between regulation and privacy
The efficiency of new anti-money laundering solutions has increased by over 300%

Industry insiders analyze that if a16z's suggestions are adopted:
The DeFi ecosystem will usher in a new explosive growth phase
The market value of compliant decentralized stablecoins is expected to exceed 50 billion dollars
The U.S. will regain its leading advantage in the Web3 era

However, the opposing voices are equally strong:
Traditional financial institutions are worried about regulatory arbitrage
Some lawmakers insist on a comprehensive regulatory stance
Law enforcement agencies have doubts about new technologies

At this moment, the global crypto community is holding its breath:
Will the blade of regulation cut into innovation, or will it open up new horizons for the industry?
Can the ideal of decentralization survive under a regulatory framework?
Who will dominate the next hundred billion market?

The answer may be hidden in this seemingly ordinary letter.

#a16z监管博弈 #去中心化稳定币 #GENIUS法案
#加密监管 #数字身份革命

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