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Bitcoin and other major cryptocurrencies such as Ethereum and XRP have faced the threat of regulation this year, even as major financial players such as Wall Street are actively paying attention. Recently, the price of bitcoin rose sharply amid expectations regarding the application of the largest asset manager BlackRock to create a fund based on bitcoin.
However, the cryptocurrency industry remains on edge following reports that US President Joe Biden is set to hold a meeting with senior tech industry officials at the White House. It is expected that a new regulation in the field of artificial intelligence will be introduced, which may also apply to cryptocurrencies.
According to The Washington Post, Axios, and Bloomberg, Biden plans to unveil an extensive executive order on artificial intelligence on Monday. It is expected that the decree will require an assessment of AI models before their use by federal employees and will facilitate the process of moving highly qualified specialists to the United States to work in this field.
However, early reports of this decree have raised concerns in the crypto community. There is concern that the decree could classify computing power as a "national resource," which would require cloud providers such as Microsoft, Google, and Amazon to disclose information about purchases of computing resources beyond a certain threshold, including bitcoin mining and other activities.
Alexander Grieve, head of government relations at the investment firm Paradigm, expressed concerns that such a decree could be seen as an attempt to limit computing power, which could affect bitcoin mining.
It should be noted that after the ban on bitcoin mining in China in 2021, the US has become home to more bitcoin miners than any other country.
Bitcoin and other major cryptocurrencies such as Ethereum and XRP have faced the threat of regulation this year, even as major financial players such as Wall Street are actively paying attention. Recently, the price of bitcoin rose sharply amid expectations regarding the application of the largest asset manager BlackRock to create a fund based on bitcoin.
However, the cryptocurrency industry remains on edge following reports that US President Joe Biden is set to hold a meeting with senior tech industry officials at the White House. It is expected that a new regulation in the field of artificial intelligence will be introduced, which may also apply to cryptocurrencies.
According to The Washington Post, Axios, and Bloomberg, Biden plans to unveil an extensive executive order on artificial intelligence on Monday. It is expected that the decree will require an assessment of AI models before their use by federal employees and will facilitate the process of moving highly qualified specialists to the United States to work in this field.
However, early reports of this decree have raised concerns in the crypto community. There is concern that the decree could classify computing power as a "national resource," which would require cloud providers such as Microsoft, Google, and Amazon to disclose information about purchases of computing resources beyond a certain threshold, including bitcoin mining and other activities.
Alexander Grieve, head of government relations at the investment firm Paradigm, expressed concerns that such a decree could be seen as an attempt to limit computing power, which could affect bitcoin mining.
It should be noted that after the ban on bitcoin mining in China in 2021, the US has become home to more bitcoin miners than any other country.
