a16z Crypto calls on the US CFTC to clarify blockchain protocols and application rules as soon as possible.

Odaily Planet Daily reports that a16z Crypto has published an article urging the U.S. Commodity Futures Trading Commission (CFTC) to clarify rules for blockchain protocols and applications as soon as possible to protect developers. The CFTC launched the "Crypto Sprint" in August to provide regulatory guidance for the digital asset market and promote innovation. a16z Crypto believes the CFTC should explicitly state that blockchain networks, smart contract protocols, and their developers are not subject to CFTC registration requirements, and provide no-action exemptions and/or interpretative guidance clarifying under what circumstances applications do not require CFTC registration. Furthermore, it should formally establish rules and/or implement exemption remedies to provide safe harbors or innovation exemptions.