a16z's move here is paving the way for stablecoins; only with unified state-level regulation can they truly be used.

According to a report from Crypto World, Wu Shuo learned that Miles Jennings, a16z’s head of crypto policy, said that a16z has submitted comments to the U.S. Treasury Department on the proposed rules for the Genius Act, urging that state-level stablecoin regulatory regimes be aligned with the federal framework. a16z said that for stablecoins to be used for payments, they must be interchangeable; therefore, core rules regarding reserves, redemptions, capital, liquidity, and risk management should not vary from state to state. At the same time, definitions such as “payment stablecoins” and “digital asset service providers” should apply consistently to avoid state regulators reinterpreting the relevant terms. a16z also suggested clarifying rules for operating across state lines, so that compliant state-level stablecoin issuers can serve the nationwide market under a clearer framework.