The cryptocurrency market is no stranger to regulatory uncertainties, and recent events suggest that Dent Joe Biden’s impending executive order on artificial intelligence (AI) could have major implications, including potential chaos for XRP and the broader cryptocurrency space. digital assets.
According to the fact sheet published today by the US Parliament, the President has announced the applicability of a new Executive Order on AI for “Safe, Secure and Trustworthy Artificial Intelligence.” However, crypto entrepreneurs have expressed concern about the likely cessation of their work freedom, as well as stricter and more restrictive rules and regulations.
Joe Biden wants the US government to make more widespread use of artificial intelligence (AI) and for its commercial versions to be more controlled. These are two of the main themes of the lengthy executive order signed by Biden yesterday, October 30, which establishes dozens of guidelines for federal agencies to complete in the next year, on topics ranging from national security and immigration to housing and healthcare.
XRP Attorney Jeremy Hogan’s Criticisms
Pro-XRP attorney Jeremy Hogan questioned why the recent AI executive order was concerned about Americans’ privacy when, over the years, anti-cryptocurrency enforcement had violated the same right. “The hypocrisy is enormous,” he declared, saying that the US government constantly fought against privacy in the cryptocurrency industry. The executive order, according to another attorney, Jake Chervinsky, is similar to the way the US government has been handling the cryptocurrency industry.
Hogan’s post on X goes as follows:
“I couldn’t stomach reading the Executive Order on AI. BUT, I glanced through it in detail, and the hypocrisy is enormous. Hasn’t this administration attacked “privacy” in the crypto space at every opportunity? Why, all of a sudden, this concern over our “privacy”?”
Critical Information Sharing
Developers of the most advanced AI systems are mandated by government order to provide the US government with security test results and other vital data.
The Order will require companies that create basic models that pose a significant risk to national security, national economic security, or national public health and safety to notify the federal government when training the model and share the results of all security tests of the model. red team in accordance with the Defense Production Act.
Before companies release their AI systems to the public, these steps will ensure they are trustworthy and secure.
Who Will Be the Main Regulatory Body?
Establish best practices and standards for identifying AI-generated information and verifying official content to protect Americans from fraud and deception facilitated by artificial intelligence. To properly identify material produced by artificial intelligence, the Commerce Department will create guidelines for watermarking and content authentication.
Using these technologies, federal agencies will make it easier for citizens to verify the legitimacy of messages they receive from their government and serve as a model for governments and the business sector worldwide.
US Congress to Pass Data Privacy Legislation
Under the AI Executive Order, the President has urged Congress to enact bipartisan data privacy legislation to safeguard the privacy of all Americans, especially from the threats posed by AI. The primary goal of this data privacy law should be to support the rapid advancement of privacy-preserving research and technology, such as cryptographic tools that protect people’s privacy, by establishing a Research Coordination Network.
Along with this network, the National Science Foundation will encourage government agencies to implement cutting-edge, privacy-preserving technology.
By Audy Castaneda
