a16z partner: While crypto companies are stuck in "regulatory purgatory", meme coins are booming

a16z partner Chris Dixon expressed concerns about the U.S. regulatory system, questioning why meme coins have been able to thrive while cryptocurrency companies and blockchain tokens with useful applications are "stuck in regulatory purgatory" because they may be classified as securities. Chris Dixon said: "But my goal is not to defend or reduce meme coins. It is to point out the absurdity of the U.S. regulatory system that allows mere meme coins to flourish while crypto companies and blockchain tokens with more efficient uses face obstacles. We see this every day when working with entrepreneurs and startups. Any meme maker can easily create, launch, and even automatically list a token. But what about entrepreneurs who are trying to create something lasting? They are stuck in regulatory purgatory." Dixon calls this the difference between "computers and casinos", one culture focuses on innovation and the other focuses on speculative trading. He advocates for better regulations to protect investors and prevent get-rich-quick scams. Dixon also compared this to the post-Great Depression era, emphasizing the need to provide a regulatory framework in the cryptocurrency market, while advocating for a regulatory system that recognizes the characteristics of different tokens and ensures a fair, efficient and safe market for investors. (Cryptopotato)