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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 Republican Senators Mike Braun and James Lankford, introduced the first bill, which would require the government to be transparent with its AI
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Binance may have misled lawmakers in the United States about its business dealings and relationship with its local unit in a letter sent in March, Bloomberg reported on June 8. In a letter sent to United States Attorney General Merrick, senators Elizabeth Warren and Chris Van Hollen asked the Justice Department to
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Two United States senators have questioned Meta chief executive Mark Zuckerberg over the tech giant’s “leaked” artificial intelligence model LLaMA which they claim is potentially “dangerous” and could be used for “criminal tasks.”In a June 6 letter, U.S. Senators Richard Blumenthal and Josh Hawley criticized Zuckerberg’s decision to open source
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But in a world where the blockchain transactions are truly untraceable, the significant anti-money laundering (AML) rules and regulations built up since the 1970s, and the expanded anti-terrorist financing (CFT, or countering the financing of terrorism) processes put in place since the 2000s, may become toothless. The status quo among
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If the Warren-Marshall legislation fails the necessary test, does it do more harm than good? After all, money laundering is terrible. Shouldn’t the legislation be passed even if it only helps on the margins? Here is where the harms of the legislation, namely requiring those that develop software and validate
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A former Signature Bank executive has been slammed for trying to place the blame for his bank’s collapse on crypto while purportedly being able to pocket millions in bonuses and stock options. During a Senate Banking Committee hearing on May 16, United States Senator Cynthia Lummis lashed out at Scott Shay,
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U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in El Salvador and how this
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Lawmakers in the French National Assembly are seeking to effectively ban promoting crypto on social media, but Senators appear to favor lighter restrictions Source
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Binance has answered a letter from United States Senators from early March requesting information about the crypto exchange operations in the country, including its balance sheet. According to a report on March 18, Binance's response did not include the financial data requested. Bloomberg learned from an anonymous source that despite being
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Four United States Republican senators led by Bill Hagerty have written a letter to the heads of federal banking regulatory agencies, questioning the ideological motivation behind recent regulatory moves in regard to cryptocurrency. They compared the regulators’ policies to the Obama administration’s Operation Choke Point.The senators addressed Federal Reserve Board
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