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US House Democratic coalition creates AI working group

Representative Derek Kilmer will chair the Artificial Intelligence Working Group, which is aimed at introducing “sensible, bipartisan” policies for AI technology.

Democrats from the United States House of Representatives have formed a working group on artificial intelligence aimed at introducing new legislation around the nascent tech sector.

The 97-member New Democrat Coalition announced its AI working group on Aug. 15, stating it would work with President Joe Biden’s administration, stakeholders and lawmakers from both sides of the political arena to develop “sensible, bipartisan policies to address this emerging technology.”

The group will focus on a range of issues including how best to leverage AI for growth while still ensuring that workers who stand to lose their jobs as a result of AI can remain employed.

Representative Derek Kilmer will serve as chair of the AI working group and told CNBC the primary focus of the working group was to crack down on the spread of misinformation and aired concerns on advanced AI-generated deepfakes becoming increasingly prevalent online.

“There’s real concern about the potential for AI generated disinformation, real concern about misuse of advanced AI models.”

“That’s the type of thing that requires Congress to get smart and get smart fast,” Kilmer added.

Related: Pentagon forms ‘Task Force Lima’ to map generative AI for US defense

Lawmakers, academics and top tech CEOs have all signaled the need to reign in on the potential dangers raised by AI.

In May, Vice President Kamala Harris, along with Biden’s top advisers, held a meeting with several AI industry CEOs to discuss concerns about the risks associated with AI.

In June, President Biden held a meeting with experts in AI in Silicon Valley to discuss a similar subject.

AI Eye: Is AI a nuke-level threat? Why AI fields all advance at once, dumb pic puns

Additional reporting by Felix Ng.

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Billionaire David Rubenstein Says Bitcoin Here To Stay As ‘Enormous Interest’ Spreads Around the World

Billionaire David Rubenstein Says Bitcoin Here To Stay As ‘Enormous Interest’ Spreads Around the World

Billionaire David Rubenstein says that Bitcoin (BTC) isn’t going anywhere now due to a wave of massive interest in the king crypto spread around the globe. In a new interview with Bloomberg, the legendary investor and co-founder of financial services titan Carlyle Group says that interest in BTC and other prominent crypto assets is ramping […]

The post Billionaire David Rubenstein Says Bitcoin Here To Stay As ‘Enormous Interest’ Spreads Around the World appeared first on The Daily Hodl.

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Brian Armstrong To Meet With Democrats To Discuss National Security and Tax Issues Relating to Crypto: Report

Brian Armstrong To Meet With Democrats To Discuss National Security and Tax Issues Relating to Crypto: Report

The head of the largest US-based crypto exchange by trading volume is meeting with politicians to discuss an agenda for crypto. According to a new Bloomberg report, Coinbase CEO Brian Armstrong is meeting with House Democrats to discuss crypto as it relates to national security, climate and tax. Armstrong will in private on Wednesday with the […]

The post Brian Armstrong To Meet With Democrats To Discuss National Security and Tax Issues Relating to Crypto: Report appeared first on The Daily Hodl.

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Winklevoss Twins Say Democrats Will Face Blowback From Voters After Anti-Crypto Stance

Winklevoss Twins Say Democrats Will Face Blowback From Voters After Anti-Crypto Stance

Cameron and Tyler Winklevoss are predicting that Democrats will lose voters in upcoming elections due to their anti-crypto agenda. The Gemini co-founders took to Twitter to tell their combined 1.7 million followers that the “war on crypto” will cost the Democrats the 2024 US presidential election.  Says Tyler, “[Roe v. Wade] cost Republicans the mid-terms. The […]

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Democrats’ ‘war on crypto’ will lose its key voters: Winklevoss twins

Young people have been shown to be the biggest crypto adopters that also largely voted for the Democrats in the last election.

United States President Joe Biden and the Democratic Party risk losing its crucial youth voters as a result of their continued “war against crypto," according to the Winklevoss twins.

On June 10, the co-founder of the crypto exchange Gemini, Cameron Winklevoss, tweeted the Democrats will “alienate an entire generation” of crucial youth voters due to their anti-crypto stance.

Cameron singled out Senator Elizabeth Warren and President Biden-nominated Securities and Exchange Commission Chair Gary Gensler in particular.

A day later, on June 11, Gemini’s other co-founder and Cameron’s twin brother, Tyler Winklevoss, followed up with his own tweet, claiming thaWarren and Gensler’s “war” would see Democrats lose the 2024 election.

Gensler’s tenure at the SEC has seen an increase in enforcement actions against the crypto space, while Senator Warren has shared indications of building an “anti-crypto army.”

Crypto on the ballot?

On Nov. 5, 2024, a presidential election together with elections for the House of Representatives and the Senate will be held in the U.S. All 435 seats in the House are up for grabs along with 34 out of 100 spots in the Senate.

Youth voters — aged 18 to 29 — are a major voting bloc for the Democrats. Data from the U.S. 2022 midterm elections show 63% of surveyed youth voted for the Democrats, compared to 35% for Republicans.

The same age cohort is also the largest demographic of crypto users or investors, with 28% of Americans aged 18 to 29 years old saying — at some point — that they have used or invested in crypto, according to an April report by Pew Research.

Related: 'Near impossible to know' what is and isn't a security: Mark Cuban on SEC

What’s unclear, however, is the importance of crypto policy to young voters, relative to other issues.

In a Pew survey on policy priorities conducted in January — before the banking crisis in March — the top issue was strengthening the economy which for those aged 18 to 29 came second to improving education.

Cryptocurrency regulation didn’t make the list of the top 21 policy items as surveyed by Pew.

Regardless, some presidential nominees from both sides of the political aisle have made their stances on crypto policy clear, such as Republican hopeful Ron DeSantis and Democratic hopeful Robert F. Kennedy Jr., who have signaled pro-crypto stances.

Cameron and Tyler Winklevoss have contributed to campaigns for both Republican and Democratic nominees, according to data from the lobbying tracking site OpenSecrets.

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?

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Arthur Hayes Says Explosive Times Ahead for Bitcoin and Financial Markets as US Debt Deadline Approaches

Arthur Hayes Says Explosive Times Ahead for Bitcoin and Financial Markets as US Debt Deadline Approaches

BitMEX founder Arthur Hayes says that the macro environment is starting to look favorable for Bitcoin (BTC). In a new interview on the “What Bitcoin Did” podcast, the crypto veteran says that the government will do what it usually does during a debt deadline crisis, which is wait until the last moment and before raising […]

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Georgia Rep. Marjorie Taylor Greene Criticizes Fednow Project, Pushes for Return to Gold Standard

Georgia Rep. Marjorie Taylor Greene Criticizes Fednow Project, Pushes for Return to Gold StandardOn Wednesday, Marjorie Taylor Greene (MTG), a Republican member of the U.S. House of Representatives, shared an article about the Federal Reserve’s Fednow project and criticized the central bank’s digital currency efforts. The representative from Georgia insisted that the U.S. should return to the “gold standard” and said she’s taking a “hard pass” on digital […]

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Elizabeth Warren Explains Her ‘Anti-Crypto Army’ Stance; Waves of Democrats Oppose Her Bitcoin Criticism

Elizabeth Warren Explains Her ‘Anti-Crypto Army’ Stance; Waves of Democrats Oppose Her Bitcoin CriticismElizabeth Warren, the Democratic senator from Massachusetts, has recently launched a political campaign against cryptocurrencies as she seeks a third term in office in 2024. In a recent interview on “Meet the Press Reports” with NBC’s Chuck Todd, Warren likened buying bitcoin to “buying air.” Despite her stated distrust of banks, Warren told the show […]

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Polls suggest Elizabeth Warren’s anti-crypto army strategy won’t pay off

Elizabeth Warren has long been a crypto-critic, and appears to be making it a focus as her re-election bid kicks off.

The United States Senator for Massachusetts Elizabeth Warren is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans think crypto is a key innovation for the future.

In a March 30 Tweet, Warren suggested she was fighting to put “government on the side of working families,” and prominently quoted a Politico headline that said: “Elizabeth Warren is building an Anti-crypto Army.”

The ‘Pro-crypto Army’ took to Twitter to lambast the Senator. Popular YouTuber Coin Bureau ridiculed the strategy, saying, “Imagine thinking that building an 'anti-crypto army' is going to win you votes?” while crypto advocate Lord TJ suggested that the stance will “push innovation offshore.”

While the Senator undoubtedly has access to her own private polling on the issues, recent polls commissioned by the industry suggest the stance will not be a vote winner among the majority of the population.

In a Feb. 24 survey commissioned by crypto exchange Coinbase, a whopping 76% of the representative sample believed that “cryptocurrency and blockchain are the future.”

A survey commissioned by digital asset management firm Grayscale Investments in November 2022 shared similar sentiments, with the responses interestingly suggesting that 59% of Democrats consider crypto to be the future of finance. That's more than the 51% of Republicans who said the same thing.

Democrats vs Republicans on crypto as the future of finance. Source: Grayscale

However in Warren's favor, the crises of 2022 such as the collapses of BlockFi, FTX, and Terra Luna have weighed heavily on crypto sentiment among the public, with a recent survey from Morning Consult finding that trust in crypto had plummeted over the course of the year.

The phrase “Elizabeth Warren is building an anti-crypto army” was first featured in a Feb. 14 Politico article, which claimed she was “starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists.”

Related: Elizabeth Warren is pushing the Senate to ban your crypto wallet

The Senator appears to have taken a liking to the phrase, however, considering she has prominently featured it in her re-election campaign.

Warren has long been a vocal critic of crypto, and even suggested that it will ruin the economy in a Wall Street Journal op-ed soon after the collapse of crypto exchange FTX.

On Feb. 14 Warren vowed to re-introduce an Anti-Money Laundering (AML) bill she had previously pushed, which would extend to decentralized finance (DeFi) and Decentralized autonomous organizations (DAOs), while also requiring unhosted wallets, miners, and validators to implement AML policies.

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Democrats to Return 2.2% of $45.2 Million Donation Made by FTX’s Co-Founder Sam Bankman-Fried

Democrats to Return 2.2% of .2 Million Donation Made by FTX’s Co-Founder Sam Bankman-FriedAfter the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), donated $5.2 million to Joe Biden’s campaign in 2020 and more than $40 million to Democrats leading up to the U.S. midterm election cycle, three major Democratic organizations plan to return 2.2% of the funds, or $1 million, to the now-defunct crypto exchange. Of the total […]

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