AI vs. Human Governance: Debating Regulatory Efforts and Crypto Restrictions Worldwide

AI vs human governance debate, futuristic city backdrop, global leaders discussing around a table, digital AI holograms, warm sunset light casting intricate shadows, muted colors for serious undertones, a blend of renaissance and cyberpunk art styles, tense atmosphere indicating the gravity of the subject.

The lively discussion around artificial intelligence (AI) continues. Last week, dozens of AI experts, including the CEOs of OpenAI, Google DeepMind and Anthropic, signed an open statement with a single sentence: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.” Despite the ominous statement, there is no shortage of regulatory efforts to mitigate the negative impacts of AI.

In China, the “improvement of governance” in digital data and AI is being discussed by President Xi Jinping and prominent members of the Communist party. The Australian government has announced a sudden eight-week consultation that will seek to understand whether any “high-risk” AI tools should be banned. Italian Senator Marco Lombardo found a creative way to join the discussion by performing a speech entirely composed by OpenAI’s ChatGPT-4. He also trained the chatbot with the draft law of the Italian-Swiss agreement on cross-border workers, which was the topic of the meeting, along with other recent developments on the subject.

In Japan, the government’s AI strategy council blows the whistle on the lack of laws protecting copyright from AI. The Personal Information Protection Commission has demanded OpenAI minimize the sensitive data it collects for machine learning purposes. Previously, local politicians voiced support for AI, with Chief Cabinet Secretary Hirokazu Matsuno even saying Japan would consider incorporating AI technology into government systems.

Starting from June 26, privacy tokens, such as Monero XMR and Zcash ZEC, will no longer be available for trading for Binance customers in France, Italy, Poland, and Spain. The new restrictions affect a total of 12 coins: Decred (DCR), Dash DASH, ZEC, Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), Beam (BEAM), XMR, and MobileCoin (MOB). The move comes as part of ongoing compliance processes within the company.

Sweden’s minister for rural affairs, Peter Kullgren, and European Parliament President Roberta Metsola signed the long-anticipated Markets in Crypto-Assets (MiCA) cryptocurrency regulatory framework into law roughly three years after the European Commission introduced the measure. The framework is expected to come into effect following publication in the Official Journal of the European Union, with many of MiCA’s regulations on crypto firms likely starting sometime in 2024.

Lawmakers in the United States House Financial Services Committee and House Agriculture Committee have released a draft discussion offering certain crypto assets a pathway to being labeled digital commodities. The draft bill would prohibit the U.S. Securities and Exchange Commission (SEC) from denying digital asset trading platforms from registering as a regulated alternative trading system, allowing such firms to offer “digital commodities and payment stablecoins.” The proposed legislation aims to crack down on the SEC’s approach, which has been criticized by many in the crypto space.

Source: Cointelegraph

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