It’s still early days in the crypto regulatory stakes, but it’s all to play for in terms of taking the global initiative and attracting the biggest investors and the best talent.

The UK now has the chance to get on the front-foot and become a global crypto hub. Will the government’s so-called “Goldilocks zone” of regulation attract the big bears of the blockchain world? So far, it seems to be working. With its funds focussed on crypto investing, @Andreessen Horowitz’s relocation to London is a huge coup for the UK.

The Silicon Valley venture capital firm — which has about $35bn in assets under management and was an early backer of Facebook, Twitter, Coinbase and Stripe — is expanding to the UK at a time when London’s status as a fintech centre has been shaken.

Tom Blomfield, Founder of Monzo, moved to San Francisco, which he said was "much more accepting of tech companies"

There has been a dearth of public listings, struggles at flagship start-ups such as Revolut and Checkout.com, as well as the loss of top talent such as Monzo founder Tom Blomfield while the appeal of rival European capitals, such as Paris, has grown.

Andreessen Horowitz’s London office will focus on crypto and blockchain start-ups, to which it has committed $7.6bn in capital globally, and includes running a Crypto Startup School accelerator programme early next year as part of a broader set of initiatives intended to boost the local fintech community.

If the UK and Europe can keep attracting amazing investors like Andreessen Horowitz, then becoming a global frontrunner in tech is well within our sights - but we need to keep striving to empower top tech investors and leaders to get behind us.

Andreessen Horowitz opens first office outside US in London, with focus on Crypto

At times like this it’s important to remember that regulation and innovation can - and should - be friends. US regulators have been heavy-handed with their stance on crypto, from the SEC’s lawsuits against Binance and Coinbase to the Federal Reserve’s ring-fencing of digital assets. If Andreessen Horowitz’s London move is a sign of things to come, the US market could now be paying the price.

A potential crypto exodus from the US presents a golden opportunity for the UK and Europe, but we have to seize it with both hands and do everything we can to empower tech leaders to accelerate our industry. We’re not the only ones attracting interest from major crypto players, with the UAE and Hong Kong also recently outlining clear crypto and digital asset regulations.

This could be an exciting development for the European tech industry. We at Boardwave can’t wait to see what it brings!

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