The potential regulations have raised concerns within the crypto industry, particularly around the potential classification of computational resources as a "national resource." This could require companies like Google to disclose when customers exceed a certain threshold in their use of computing resources, including Bitcoin mining. While the leak is primarily focused on AI, there are concerns about the potential impact on the crypto market in terms of regulation and market prices.
Key takeaways:
- Bitcoin prices have risen by 20.27% in the last week, following news about BlackRock’s Bitcoin spot exchange-traded fund (ETF) application.
- President Joe Biden is reportedly planning to reveal a new regulation that could impact the crypto industry, according to a leak.
- The regulation would require AI models to undergo comprehensive assessments before being approved for use by federal employees.
- There are concerns within the crypto industry that the regulation could classify computational resources as a “national resource,” potentially affecting activities like Bitcoin mining.