Trump claims he is only ‘guardrail’ needed to control AI as top Republicans join him in dismissing calls for more checks – live | Trump administration

Trump claims he is only ‘guardrail’ needed to control AI as top Republicans join him in dismissing calls for more checks – live | Trump administration

Trump claims ‘sick conspiracy’ over calls for more guardrails on AI companies

Donald Trump has claimed there is a “SICK conspiracy” against artificial intelligence and data centers in response to the growing calls for greater checks on AI development.

“The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!” Trump wrote on Truth Social, insisting that the administration has stopped leaders of AI companies from “doing bad, or potentially bad” things. However, he didn’t point to any concrete examples for how he has curbed possible abuse or malfeasance in the industry.

The president said over the weekend that the AI arms race is of the upmost importance to the US national security. “Whoever wins AI wins,” he told reporters on a visit to Ireland, before repeating it on social media today. Trump also chided Dario Amodei, CEO of Anthropic, who we noted earlier has called to slow down AI’s advancement to ensure public safety. This comes after company whistleblowers claimed that the technology has the potential to “kill all of humanity” within the decade.

Trump accused Amodei of “now pretending to be a ‘perfect little angel’”, and claimed that the administration has “tremendous CRIMINAL and REGULATORY power over these companies”.

The president added:

double quotation markThere is a SICK conspiracy going on against AI and Data Centers, and the only one that is happy about it is China … We are leading China, and all others, and will continue to do so. Conspiracy Theorists, Treasonists, Traitors, and Leakers, BEWARE!

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Key events

Senate Republicans release new crypto bill text ahead of critical Tuesday vote

Senate Republicans have released a revised draft of major cryptocurrency legislation which they said addressed Democrats’ concerns over ethics provisions, as well as banking industry concerns that the bill ⁠could hurt lending, ahead of a key vote tomorrow.

The Clarity Act, which would create a regulatory framework for cryptocurrencies, had stalled amid concerns among Democrats and some Republicans that it had ⁠insufficient ethics and illicit finance safeguards and could destabilize the banking system by creating more competition for deposits.

This morning, GOP senators ​Cynthia Lummis of Wyoming, John Boozman of Arkansas and ‌Tim Scott of South Carolina said the ‌new text incorporated “126 substantive changes made at the request of Democrats”.

But it’s still unclear if it ‌has enough support to reach the 60-vote threshold needed to pass a key procedural vote tomorrow that could determine the bill’s fate, while the banking industry remained opposed to the text, an industry official told Reuters.

After a year of intense daily bipartisan negotiations, this bill is ready,” Lummis said in a statement. “Democrats got what they wanted; now they need to take yes for an answer.

Democrats have been pushing, in particular, for the text to include stricter ‌restrictions on public officeholders profiting off their own crypto ventures, an effort in part aimed at Donald Trump’s World Liberty Financial. Trump in June disclosed that he had made $1.4bn off ​his crypto ventures.

The new text includes rules put forth by senators Thom Tillis, a Republican, and Democrat Ruben Gallego. It includes giving state attorneys general more power to enforce the restrictions.

“President Trump voluntarily agreed to unprecedented ethics restrictions, holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in US history,” Lummis said in the statement.

Spokespeople for Gallego and ⁠Tillis did not immediately respond to Reuters’ requests for comment on whether they endorsed the new ​text.

The new draft also includes new ​protections for bank deposits, and protects consumers ​with new guardrails on affiliate trading, clarifies the applicability of state consumer protection laws and protects software ​developers, the Republican senators said.

However, ‌the banking industry continues ​to have concerns about language ​that would allow crypto players to offer rewards on dollar-backed tokens known as stablecoins, the industry official told Reuters.

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