The CFTC is seeking feedback on its recommendations for DeFi regulation; a16z proposes three action plans.

a16z submitted its opinion to the CFTC, arguing that: 1. "Protocols (blockchain and smart contracts)" that meet the conditions should be clearly defined through no-action letters/interpretive guidelines, eliminating the need for registration; 2. "Apps (front-end interfaces)" that meet the limited functions and user qualifications should be provided with no-action letters/guidelines, confirming that they do not trigger registration obligations such as FCM, IB, DCM, and SEF, and clarifying compliance practices for ECP and domestic/overseas user authentication; 3. Rulemaking or exemptions should be developed to provide innovative exemptions or customized registration paths for Apps that do not meet the second condition.