Overnight Digest: Key Moves in AI and Crypto
The past night brought significant developments shaping the future of artificial intelligence and digital assets, from regulatory pressures to strategic corporate actions.
Growing Calls for AI Oversight and Trump's New Initiative
The governance of artificial intelligence is taking center stage. A coalition of more than 100 leading experts has urged policymakers to establish independent regulatory oversight for AI companies, emphasizing the need for safety and accountability.
In a related move, former U.S. President Donald Trump announced the formation of an "AI Force" initiative. He projected that AI could eventually account for a quarter of the nation's GDP. Trump also launched a poll suggesting potential replacements for the term "artificial intelligence," with options like "Super Intelligence (SI)."
Shift in Crypto Regulatory Landscape
A pivotal cryptocurrency regulation bill, known as the Clarity Act, has stalled in the Senate. This setback likely leaves the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) as the primary authorities overseeing the crypto market for the foreseeable future, delaying hopes for comprehensive legislative clarity.
Visa Addresses Critical Rewards Loophole
Global payments network Visa has moved swiftly to close a loophole in its rewards program related to meme coins. The fix aims to prevent potential exploitation and ensure the integrity of its incentive systems.
Additional Tech Updates
- Smart Contract Milestone: The Midnight network is preparing to enable smart contract deployments on its mainnet, marking a significant step in its ecosystem development.