According to Kevin Hassett, director of the White House National Economic Council, the Trump administration will not establish a new bureaucratic agency to regulate AI products. Hassett stated that “nobody at the White House thinks we should build a large new bureaucracy to approve AI.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
OCC approves Augustus Company to establish the first AI-native stablecoin settlement bank in the United States
According to a May 12 report by Bitcoin.com News, the U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to Augustus (Augustus), allowing the establishment of Augustus Bank, NA, making it the first AI-native stablecoin settlement bank in the U.S. to reach this stage of approval by the OCC. Founding Team Background and Existing Business According to an official Augustus announcement, the co-founder and CEO of Augustus Bank, NA is Ferdinand Dabitz, 25 years old a
MarketWhisper10m ago
OpenAI Launches $4B Deployment Company, Acquires Tomoro
According to Reuters, on May 11, OpenAI launched a majority-owned Deployment Company with more than $4 billion in initial investment and acquired Tomoro, an AI consulting firm formed in 2023. The new unit will place engineers inside client organizations to identify frontier AI applications, with
GateNews12m ago
Wedbush Predicts Nasdaq to Challenge 30,000 Within a Year; Recommends AI Supply Chain Exposure
According to Wedbush analyst Dan Ives, the Nasdaq Composite Index will challenge the 30,000 level within the next year, driven by better-than-expected tech earnings and growing AI sector confidence. Ives noted that the current chip supply-demand gap stands at 10 times, indicating the AI revolution r
GateNews18m ago
Microsoft-OpenAI Deal Caps Revenue Share at $38 Billion Through 2030, Per Latest Agreement
According to The Information, on May 12, OpenAI's latest agreement with Microsoft sets a revenue share cap of $38 billion, while OpenAI is projected to save $97 billion through 2030 under the new terms.
GateNews45m ago
OpenAI Co-Founder Ilya Sutskever Testifies on Altman Ouster, Holds $7B Stake
According to Beating, OpenAI co-founder and former Chief Scientist Ilya Sutskever testified Monday in the Musk v. OpenAI case, disclosing details of his push to remove CEO Sam Altman. Sutskever said he spent approximately one year gathering evidence of Altman's pattern of "persistent dishonesty," in
GateNews46m ago
