a16z & DEF dey propose SEC safe harbor for NFTs and DeFi

Andreessen Horowitz (a16z) and DeFi Education Fund (DEF) don dey beg US Securities and Exchange Commission (SEC) to form regulatory safe harbor for certain NFT platforms and DeFi apps. For letter wey dem write to Commissioner Hester Peirce, dem propose say make dem no register projects wey no be broker-dealers, exchanges or clearing agencies under Securities Exchange Act. This SEC safe harbor go reduce legal wahala, push blockchain innovation wey dey inside US and stop wrong classification of modern software, but still keep SEC power to enforce against risky activities. The proposal repeat a16z earlier safe harbor idea, explain criteria for airdrops and network tokens, and follow the call from White House working group and SEC leaders to update old digital asset rules. The SEC safe harbor fit also protect platforms like Cumberland DRW, Coinbase and Kraken from civil case wey concern unregistered intermediary activities.