According to online reports, Michele Korver, head of supervision of a16z Crypto, wrote on the X platform: "We at a16z Crypto believe that DeFi will make financial services and the digital economy more convenient, efficient, interoperable, reliable, and consumer-centered. However, yesterday the U.S. Treasury Department issued new broker reporting rules that pose a direct threat to this commitment and undermine the future of U.S. DeFi innovation. We at a16z Crypto support the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council to file a lawsuit because the U.S. Department of Revenue and the Treasury have exceeded their legal authority, violated the Administrative Procedure Act (APA) and was unconstitutional. DeFi builders should be confident that industry lawyers are working hard to protect the technology. We will continue to fight on all fronts-in the courts, with the help of Congress and the new administration."