The New York Stock Exchange’s top financial regulator is leaving his post for a crypto-related position at venture-capital firm Andreessen Horowitz.
According to the Wall Street Journal (WSJ), Anthony Albanese, who has served as NYSE’s chief regulatory officer for the last four years, will join the famous Silicon Valley investment firm in mid-November as a crypto regulation advisor.
If You Can’t Beat Them, Join Them
Mr. Albanese is set to become the latest regulator to depart for a company active in digital-currency markets. For Andreessen Horowitz, hiring Albanese could be a valuable asset.
Having such an experienced hand in-house could be a significant edge for a company operating in the crypto space, where many regulatory uncertainties still exist.
Per the WSJ, Albanese’s work will,
“involve outreach to regulators and helping to shape strategy for Andreessen Horowitz’s cryptocurrency projects.”
An Experienced Crypto Regulator
Prior to becoming the NYSE’s chief regulator, Mr. Albanese was the superintendent of the New York State Department of Financial Services, where he was involved in its issuance of the first “BitLicense” in 2015.
The highly sought after BitLicense is a framework devised by the state that enables businesses to conduct digital-currency activities legally.
For Andreessen Horowitz, this is the latest notable move for a company used to making waves. Earlier in the year, the firm raised $515 million for its second crypto-focused investment fund.
It also launched a “crypto start up school” in the spring, designed to help potential entrepreneurs navigate the “idea maze” and start building crypto projects.
Andreessen Horowitz will also reportedly publish its own announcement of the hire. This post was not available at press time.