PANews reported on March 22 that according to relevant documents disclosed by Cointelegraph, a16z said at the cryptocurrency working group meeting of Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission: "If the U.S. Securities and Exchange Commission can provide guidance on token issuance, it will prevent the trend of tokens being issued only to non-U.S. citizens - a trend that actually transfers ownership of blockchain technology developed in the United States to overseas."