The Clarity Act nears a Senate vote after a year of negotiations while chipmakers tumble on slowing AI demand and top CEOs praise Trump policies.
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The Clarity Act, a cryptocurrency regulation bill, faces a key Senate floor vote this week after nearly a year of negotiations, according to The Hill. The measure represents the most significant attempt to regulate the crypto industry in years.
Wall Street closed lower on Monday as chipmakers slumped amid growing calls for an AI slowdown, Reuters reports. The selloff reflects investor concerns about the sustainability of AI infrastructure spending.
Senate Minority Leader Mitch McConnell returned to Washington on Monday after a three-month absence due to a fall, hospitalization, and pneumonia, per CNBC. The 84-year-old Kentucky Republican spent weeks in rehabilitation.
OpenAI CEO Sam Altman identified two major risks to AI's future in a Sunday post on X: losing control of AI alignment and the concentration of too much power by a single country or lab. Meanwhile, Larry Kudlow wrote for Fox Business that AI concerns amount to an "election-year Democratic ruse."
The Treasury Department released a video on Monday featuring top executives including JPMorgan CEO Jamie Dimon and Goldman Sachs CEO David Solomon praising the Trump administration's pro-business policies, Fox Business reported. The clips were recorded at the G20 ministerial meeting in Asheville, North Carolina.
Sources: 1. The Hill: Crypto regulation bill faces Senate vote — https://thehill.com/newsletters/business-economy/6089318-crypto-regulation-bill-faces-senate-vote/ (src1) 2.