Crypto Crackdown: US Government Ignores AI Threat

US Crypto Crackdown on the Rise

• U.S. regulatory agencies have been ramping up enforcement actions against crypto companies since the beginning of the year.
• Signature Bank was seized by the New York State Department of Financial Services (NYDFS) and buyers were not allowed to reinstate crypto activities after taking over.
• The SEC and CFTC have also sued Coinbase and Binance respectively for alleged illegal activities in recent months.

Mike Novogratz’s Reaction

American investor and CEO of Galaxy Digital, Mike Novogratz, is shocked that the U.S. government is cracking down on crypto while overlooking AI’s potential threats. He questions why authorities are focusing their efforts solely on crypto instead of considering other dangers such as AI developments, which could lead to unintended consequences such as an AI arms race.

AI – Pandora’s Box in the Making?

ChatGPT’s productivity-enhancing capabilities across multiple industries have generated significant interest recently. Nevertheless, a group of more than 1,000 AI insiders — including experts and researchers —have called for a pause on its development due to fears that an AI arms race may arise from it.

Operation Choke Point 2.0

Anthony Pompliano has described Operation Choke Point 2.0 as a program enforcing political ideologies without adhering to relevant laws or due process; this can effectively marginalize entire industries such as cryptocurrency through de-banking measures taken by authorities with no legal basis for doing so.

Conclusion

The U.S.’s crackdown on crypto while overlooking potential risks posed by AI raises serious questions about whether this is really in the best interests of citizens or merely serves political agendas with no legal basis behind them; only time will tell how these events unfold in the future.

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