a16z Partner: As cryptocurrency companies fall into "regulatory purgatory", meme coins are thriving
General partner Chris Dixon of Andreessen Horowitz (a16z) expressed concern about the U.S. regulatory system, questioning why meme coins can thrive while cryptocurrency companies and blockchain tokens with useful applications are "trapped in regulatory purgatory" as securities. Chris Dixon stated that his goal is not to defend or reduce meme coins. He pointed out the absurdity of the U.S. regulatory system, which allows only meme coins to flourish while crypto companies and blockchain tokens with more productive uses face obstacles. We see this every day when working with entrepreneurs and startups. Any meme creator can easily create, launch, and even automatically list tokens. But do entrepreneurs want to create something lasting? They're stuck in regulatory purgatory.
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