CTF Written Submission

Andreessen Horowitz, a16z + DeFi Education Fund, DEF

Aug. 13, 2025
  • The proposal seeks a safe harbor from broker registration requirements for certain decentralized financial applications (DeFi Apps) and non-fungible token (NFT) marketplaces that do not pose traditional broker-related risks.
  • It outlines conditions for eligibility, including non-custodial design, lack of discretion in transactions, and prohibition on active solicitation or investment recommendations.
  • The proposal emphasizes the need for clear regulatory guidelines to foster innovation while protecting investors, aligning with historical practices and recent legislative efforts.

Last Reviewed or Updated: Aug. 13, 2025