{"id":11140,"date":"2024-02-28T19:33:16","date_gmt":"2024-02-28T17:33:16","guid":{"rendered":"https:\/\/forklog.com\/en\/elizabeth-warren-advocates-for-equal-rules-for-crypto-startups-and-tech-giants\/"},"modified":"2024-02-28T19:33:16","modified_gmt":"2024-02-28T17:33:16","slug":"elizabeth-warren-advocates-for-equal-rules-for-crypto-startups-and-tech-giants","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/elizabeth-warren-advocates-for-equal-rules-for-crypto-startups-and-tech-giants\/","title":{"rendered":"Elizabeth Warren Advocates for Equal Rules for Crypto Startups and Tech Giants"},"content":{"rendered":"<p>To ensure competition, restrictions are necessary for tech giants in the development of AI models, and crypto companies should adhere to the same rules as <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>. This was stated by U.S. Senator Elizabeth Warren.<\/p>\n<p><iframe loading=\"lazy\" width=\"1903\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/nUX92uIRDVA\" title=\"Warren on Shutdown, Interest Rates, Kroger-Albertsons Deal\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;If it&#8217;s the same type of activity and risk, there should be similar rules [\u2026]. I&#8217;m not proposing something tougher. I just want a level playing field. In our financial system, almost everyone follows the same set of rules,&#8221;<\/em> she explained.<\/p>\n<\/blockquote>\n<p>The senator noted that cooperation with the industry is challenging. According to Warren, the industry sees the only way to &#8220;survive&#8221; as having &#8220;oxygen.&#8221; In her view, the crypto industry seeks concessions for fraudsters, drug and human traffickers, and terrorists.<\/p>\n<p>Earlier, Warren expressed her intention to prevent tech giants from developing large language models of artificial intelligence.<\/p>\n<p><iframe loading=\"lazy\" width=\"1501\" height=\"750\" src=\"https:\/\/www.youtube.com\/embed\/DuykIQ15Lag\" title=\"LIVE: RemedyFest\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We can&#8217;t allow each of the major cloud services \u2014 Google, Microsoft, and Amazon \u2014 to use their enormous size to dominate a whole new field,&#8221;<\/em> Warren stated.<\/p>\n<\/blockquote>\n<p>According to her, large tech companies are capable of pushing out smaller competitors.<\/p>\n<p>Previously, five senators supported Warren&#8217;s proposed bill, which involves the introduction of <span data-descr=\"know your customer\" class=\"old_tooltip\">KYC<\/span> procedures for &#8220;wallets, miners, validators, and other network participants.&#8221; <\/p>\n<p>According to the authors of the document, it aims to prevent the illegal use of digital assets for drug trafficking, sanctions evasion, and terrorism financing.<\/p>\n<p>As reported in the development of the document, Warren used a report by the U.S. Government Accountability Office on the use of cryptocurrencies. Coinbase<a href=\"https:\/\/forklog.com\/en\/news\/coinbase-criticizes-us-authorities-for-manipulating-cryptocurrency-facts\"> pointed out<\/a> the shortcomings of its provisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To ensure competition, restrictions are necessary for tech giants in the development of AI models, and crypto companies should adhere to the same rules as TradFi. This was stated by U.S. Senator Elizabeth Warren. &#8220;If it&#8217;s the same type of activity and risk, there should be similar rules [\u2026]. I&#8217;m not proposing something tougher. I [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1175,36,1230],"class_list":["post-11140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elizabeth-warren","tag-regulation","tag-us-congress"],"aioseo_notices":[],"amp_enabled":true,"views":"66","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11140"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11139"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}