a16z Crypto urges CFTC to protect blockchain developers

Venture capital firm a16z Crypto has called on the U.S. Commodity Futures Trading Commission (CFTC) to clarify regulations for blockchain protocols and applications in order to protect developers. The firm highlighted a current inconsistency between decentralized finance (DeFi) and the Commodity Exchange Act (CEA). To address this, a16z proposed that the CFTC explicitly state that protocols and developers are not required to follow CEA registration requirements, provide no-action letters or interpretive guidance for applications, and create a tailored registration path.