February 8, 2025
Commerce nominee Lutnick says AI negates need for crypto market rules
Commerce Secretary nominee Howard Lutnick told senators at his confirmation hearing that emerging artificial intelligence technologies could substitute for the need to regulate cryptocurrency markets by enabling instantaneous monitoring of transactions to protect against nefarious actors, such as Russia or international criminals, from using cryptocurrencies to circumvent laws or sanctions.
But the Commerce Committee’s top Democrat, Sen. Maria Cantwell (D-WA), pushed backed on Lutnick’s assertions by saying immediate rules for cryptocurrency markets are needed.
The exchange between Lutnick and Cantwell,...