This is the 11th episode of 16 Minutes, our weekly news show where we quickly cover the top headlines of the week, the a16z Podcast way: what’s real, what’s hype from our vantage point in tech. This week, we cover the following news -- with a16z experts managing partner Scott Kupor and general partner in fintech Angela Strange, respectively, in conversation with Sonal Chokshi:

1. crypto & regulation/policy updates from the SEC and IRS -- including the SEC releasing an announcement that it settled charges for an unregistered ICO, and the IRS' issuing guidance (in the form of a revenue ruling and answers to FAQs) on tax treatment for hard forks and air drops;
2. ATM fees at record highs -- where it was reported that it now costs ~$4.72 (vs. $1.97 in 1998, as tracked by Bankrate.com) to withdraw money from ATMs not owned by one's bank, which disproportionately falls on low-income people in neighborhoods banks tend to avoid

• on crypto & regulation:
  • "Kik and the SEC: What's Going on and What Does It Mean for Crypto?" by Katie Haun
  • "Analogies, the Big Picture, and Considerations for Regulating Crypto" by Scott Kupor & Sonal Chokshi
• on ATM fees and "banking the unbanked":
  • "The Next 3 Billion in Financial Services" by Angela Strange

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