Securities and Exchange Commissioner Hester Peirce discussed a possible United States crypto legal framework, giving a reminder that not all uses are financial. Cryptocurrency laws in the United States should be “reserved” and not regulate the technology as though every use is financial, a commissioner at the U.S. Securities and Exchange Commission has argued. On…
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The ban comes less than a week after the House proposed a bill to create a federal artificial intelligence commission. The United States House of Representatives recently adopted new rules banning all use of artificial intelligence (AI) large language models by members, with the sole exception of OpenAI’s ChatGPT Plus service. According to a notice…
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The U.S. president will meet with AI experts to discuss safety, policy and opportunities while he’s in San Francisco. United States President Joe Biden will discuss artificial intelligence (AI) with a group of Silicon Valley experts on June 20 between campaign fundraising stops in California. The president will meet with at least eight experts, including…
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The bipartisan bills target government transparency when using AI and the formation of a new Office of Global Competition Analysis to stay on top of innovation. Lawmakers in the United States have proposed two new bipartisan bills targeting issues of transparency and innovation in artificial intelligence (AI). On June 8, Democratic Senator Gary Peters, and…
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Coinbase CEO Brian Armstrong has stated China will be one of the biggest beneficiaries of how the U.S. is approaching cryptocurrency regulation. According to Armstrong, the current regulatory system drives cryptocurrency innovation offshore, while other countries like China embrace these technologies. Future generations will have to pay for these decisions, Armstrong believes. Coinbase CEO Brian…
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Following the U.S. bankruptcy court judge’s rejection of the U.S. Trustee’s plea to designate an impartial investigator for the FTX bankruptcy case, the government is now appealing this verdict. In essence, the U.S. Trustee’s appeal has been forwarded to the U.S. Third Circuit Court of Appeals, and chief judge Colm F. Connolly acknowledged that he…
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U.S. President Joe Biden expressed opposition to a debt ceiling deal that would allegedly benefit crypto traders. United States President Joe Biden expressed opposition to a debt ceiling agreement with Republican leaders that would allegedly benefit crypto traders. Attending the Group of Seven (G7) Summit, Biden reportedly classified Republicans’ proposed terms as “unacceptable” during a…
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The hearing was filled with a heavy amount of criticizing the SEC, urging to take matters of regulation into Congress’ hands and empowering the CFTC. On May 10, the United States House of Representatives Financial Services Committee and Agriculture Committee held their first joint hearing on digital asset regulation. The event felt like a logical…
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Altman appeared alongside NYU professor Gary Marcus and IBM chief of trust Christina Montgomery to discuss how the U.S. government should regulate the AI industry. Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus. The Senate Judiciary Privacy,…
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A related report by the FDIC chief risk officer cited poor management as “the root cause of Signature Bank’s failure.” Investigations into the collapse of Signature Bank point toward illiquidity circumstances and poor management. However, the Federal Deposit Insurance Corporation (FDIC) chairman, Martin Gruenberg, believes the bank’s failure to understand the risks associated with cryptocurrencies…
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