a16z Crypto calls on the U.S. CFTC to clarify blockchain protocol and application rules as soon as possible

a16z Crypto published a statement calling for the Commodity Futures Trading Commission (CFTC) to clarify the rules regarding blockchain protocols and applications as soon as possible to protect developers. In August, the CFTC launched the "Crypto Sprint" initiative aimed at providing regulatory guidance for the digital asset market and promoting innovation. a16z Crypto believes that the CFTC should clearly state that blockchain networks, smart contract protocols, and their developers are not subject to the registration requirements of the Commodity Exchange Act (CEA), and provide no-action relief and/or interpretive guidance to clarify under what circumstances applications do not constitute activities that require registration with the CFTC.

At the same time, formal rulemaking and/or exemption relief measures should be taken to provide a safe harbor or innovation exemption.