Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Andreessen Horowitz has penned an open letter to the US Senate Banking Committee urging scrapping the “ancillary asset” concept in draft crypto legislation, warning of loopholes, public companies buying crypto have promised to spend $8 billion just in the last week, and the US Securities and Exchange Commission (SEC) launched “Project Crypto,” promising to overhaul digital asset rules.Venture capital firm Andreessen Horowitz (a16z) called on US lawmakers to revise a draft crypto regulation bill, warning that the proposed framework could open dangerous loopholes and undermine investor protections.In a Thursday open letter to the US Senate Banking Committee, the investment firm urged regulators to close loopholes in the draft crypto legislation. The letter was a response to the discussion draft released in late July.Read more

Source: cointelegraph.com (Read Full Article)