a16z argues decentralized stablecoins are not subject to GENIUS Act

Andreessen Horowitz (a16z) Crypto has urged the U.S. Department of the Treasury to exempt decentralized stablecoins from the proposed GENIUS Act for stablecoin regulation, The Block reported. In a letter to the department, a16z emphasized that the Treasury should clarify that the act does not apply to these assets. The firm argued that decentralized stablecoins are not issued by a 'person' as specified in the legislation and therefore fall outside its intended scope.