Trump repeals Joe Biden’s “dangerous” regulation on Artificial Intelligence and cryptocurrencies

by Andrea
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Trump repeals Joe Biden's "dangerous" regulation on Artificial Intelligence and cryptocurrencies

The president of the United States, Donald Trump, signed a decree this Thursday to promote Artificial Intelligence systems “free of ideological biases or designed social agendas” and that repeals the “dangerous” regulations established by his predecessor, Joe Biden, on security and transparency in the sector.

“We must develop AI systems that are free of ideological bias or engineered social agendas. This order repeals certain existing AI policies and directives that act as barriers to American innovation in AI, clearing the way for the United States to act decisively to maintain world leadership in artificial intelligence,” says a note issued by the White House.

The US president has highlighted that, with this order, “he is fulfilling his promise to revoke” what he has described as a “dangerous” Democrat policy in this regard, because it “imposes onerous and unnecessary government control over the development” of this technology. .

To do this, a working group “will immediately review (…) all policies, directives, regulations, orders and other actions taken” following former President Biden’s broad executive order in 2023, which Trump revoked this Monday.

Likewise, it must “identify” those that “are or may be inconsistent” with the new order, which must be suspended, although the text does not mention which existing policies are hindering the development of Artificial Intelligence.

The decree of the new head of the White House also orders the “development of an Artificial Intelligence Action Plan” within a period of six months in order to “maintain and improve its global dominance (…) in order to promote human flourishing, economic competitiveness and national security.

“With the right government policies, we can solidify our position as a global leader in AI and ensure a better future for all Americans,” the order adds.

Turn the US into the “capital of cryptocurrencies”

Along the same lines, the US president has signed an executive order to “make” the country the “center of digital financial technology innovation by stopping the aggressive enforcement actions and regulatory overreach that have stifled cryptocurrency innovation under previous administrations.” “.

As with AI, the order “repeals the previous administration’s order and framework for international engagement on digital assets from the Treasury Department,” finding that they “suppressed innovation and undermined US economic freedom and leadership.” world in digital finance”.

Instead, a working group “chaired by the White House’s AI and Cryptocurrency Czar,” tycoon David Sacks, must develop a regulatory framework for the digital assets sector within 180 days.

The group will include the Secretary of the Treasury, the chairman of the Securities and Exchange Commission and the heads of other departments and agencies, who must identify “any regulations and other actions” of their agency “that should be rescinded or modified.”

The order further prohibits agencies from “taking any action to establish, issue or promote central bank digital currencies.”

“Trump will help make the United States the center of digital financial technology innovation by stopping the aggressive enforcement actions and regulatory overreach that have stifled cryptocurrency innovation under previous administrations,” the White House said, while has highlighted this order as “an unprecedented step to welcome a new era for digital financial technology.

“The growth of digital financial technology in the United States should not be hindered by restrictive regulations or unnecessary government interference,” he added.

The New York tycoon presented earlier this week the ‘Stargate’ megaproject, led by OpenAI, Oracle, SoftBank and MGX, with the intention of investing 500 billion dollars (481.16 billion euros) in the next four years in artificial intelligence infrastructure (IA) in the United States, which could generate more than 100,000 jobs in the country.

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