Altcoin

Elizabeth Warren Supports Fairness and Regulation in Cryptocurrency and Artificial Intelligence

United States Senator Elizabeth Warren’s Stance on Cryptocurrency and AI Development

Level Playing Field in Cryptocurrency Industry

United States Senator Elizabeth Warren has emphasized the need for a legal “level playing field” in the cryptocurrency industry and has called for restrictions on major tech companies’ development of artificial intelligence (AI) models. In a recent Bloomberg Television interview, Warren expressed her desire to collaborate with the crypto industry while advocating for fair regulations. She argued that in the financial system, everyone should adhere to the same set of rules, stating, “My view is that it’s the same kind of activity, the same kind of risk, and should have the same kind of regulations. I’m not looking for fancier regulations or anything tougher; I just want a level playing field.”

Addressing Concerns in the Crypto Space

According to Warren, achieving a level playing field has been hindered by claims from the crypto industry that concessions are necessary to ensure its survival. She highlighted ransomware scammers, drug and human traffickers, and terrorists as examples of actors for whom the industry seeks leniency. To address concerns related to money laundering in the crypto space, Warren has proposed the Digital Asset Anti-Money Laundering Act. The legislation aims to treat decentralized technologies, including blockchain nodes, validators, noncustodial wallets, and software providers, as financial institutions similar to traditional banks and stock brokers. However, the bill has faced criticism from industry executives, organizations, and associations who argue that it is ill-suited for the technology and may impede innovation and investment, potentially pushing them overseas.

Regulation of AI Development

In addition to her focus on the crypto industry, Warren has also targeted major tech players such as Microsoft, Google, and Amazon in the realm of AI. She expressed her intention to prevent these companies from using their size and resources to dominate the development of large language models. Warren believes that such dominance could hinder competition and innovation, particularly in emerging AI areas like chatbots. This stance aligns with her broader campaign against the market power and concentration of Big Tech in various industries.

Response to Challenge From John Deaton

Last week, Warren claimed that a well-funded member of the “crypto lobby” is vying to displace her from her seat on Capitol Hill. Warren’s campaign team claimed that she’s “not afraid” of the new challenge, but will “need to prepare” to compete against such powerful interest groups. Deaton, who boasts over 317,000 followers on Twitter, is best known as a crypto-supportive litigator who defended over 75,000 XRP holders during Ripple’s years-long lawsuit with regulators that came to a close last year. He was also a vocal supporter of Grayscale in its lawsuit against the Securities and Exchange Commission (SEC), often suggesting that the agency acted in bad faith against crypto at large.

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Masha Media News.
  • Finalidad:  Moderar los comentarios.
  • LegitimaciĂłn:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actĂşa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • InformaciĂłn Adicional: Puede consultar la informaciĂłn detallada en la PolĂ­tica de Privacidad.

You May Also Like

DeFi

📰 Table Of Contents1 Layer N Welcomes Luc Froehlich to Advisory Board1.1 Protocol’s Innovative Approach2 Layer N Unveils Nord Roll-up Testnet2.1 Nord Roll-up Features3...

Bitcoin

📰 Table Of Contents1 Argentinian Regulators and El Salvador Discuss Bitcoin Adoption1.1 Exploring Possible Cooperation Agreements1.2 Learning from El Salvador’s Bitcoin Experience1.3 Strengthening Ties...

Blockchain

đź“° Table Of Contents1 Ledger Stax Hardware Wallet Shipping Update2 Design Challenges and Delay2.1 Enhanced User Experience3 Ledger Stax Pricing and Security Features3.1 Production...

Bitcoin

📰 Table Of Contents1 Biden’s Decision on SEC’s Crypto Regulations Nears1.1 Overview of the Situation1.2 Potential Outcomes of Presidential Action1.3 Implications for Bitcoin and...

DeFi

📰 Table Of Contents1 Pseudonymous Developer Confesses to Stealing Funds from Cypher Protocol1.1 Hoak’s Confession and Fund Theft1.2 Transfer of Funds to Binance1.3 Impact...

Blockchain

đź“° Table Of Contents1 Binance France Ownership Restructuring1.1 Reasons for Ownership Change1.2 New Shareholders1.3 Yulong Yan1.4 Lihua He1.5 Global Restructuring Project1.6 Regulatory Challenges and...

Ethereum

📰 Table Of Contents1 Fake Crypto Airdrops Targeting Investors1.1 Crypto Scam Victim’s Experience1.2 Airdrop Scams and Their Tactics1.3 Preventative Measures for Investors1.4 Importance of...

Blockchain

đź“° Table Of Contents1 Interview with Jon Trask, CEO of Dimitra: Revolutionizing Agriculture with Blockchain and AI1.1 Revolutionizing Agriculture Across Africa and the Globe1.2...

Copyright © 2024 CRYPTOWIRE.TOP. All rights reserved. This website provides educational content, emphasizing that investing involves risks. Ensure you conduct thorough research before investing and be ready for any potential losses. For those over 18 and interested in gambling: Online gambling laws differ across countries; adhere to your local regulations. By using this site, you agree to our terms, including the presence of affiliate links that do not impact our evaluations. Cryptocurrency offers on this site are not in line with UK financial promotion regulations and are not aimed at UK consumers.

Exit mobile version